Canadian finance minister could walk the plank. Mark Carney could be tapped

A report in the Globe and Mail reports that the relationship between Canadian PM Trudeau and finance minister Chrystia Freeland has become tense and that a cabinet shuffle could be coming.

“Senior officials in Prime Minister Justin Trudeau’s office are concerned
that Finance Minister Chrystia Freeland has not been effective in
delivering an upbeat economic message as the Liberal government
struggles to reconnect with Canadians amid low approval ratings, sources
say,” the report says.

The Prime Minister is polling dreadfully but doesn’t have to call an election until November 2025 so long as the left-wing NDP continues to support his Liberal party.

The report (and another one in the Toronto Star) says that former BOC and BOE Governor Mark Carney could be tapped to replace Freeland. He’s not an MP but neither was Michael Wilson, who served as Minister of Finance from 1984 to 1991 under Prime Minister Brian Mulroney. Wilson was first unelected and held the position but was later elected in a by-election.

I strongly suspect that Carney could have the position if he wanted it but I’m not sure he wants to latch himself to a ship that’s surely sinking. However he may be seduced by freedom to craft a new budget that marks a different path and would set himself up to succeed Trudeau.

This article was written by Adam Button at www.forexlive.com.