Federal politics: timetable and issues following Trudeau's resignation and the leadership race

After nine years at the helm of Canada, Prime Minister Justin Trudeau announced in early January his intention to step down as leader of the Liberal Party and Prime Minister. He will remain in office until his successor is elected.

The leadership race is underway and will conclude on March 9.

The choice of the new leader will determine the party's direction and strategy for the next election. Candidates in the LPC leadership race include:

• Former Finance Minister Chrystia Freeland
• Former Bank of Canada Governor Mark Carney

Under the Canada Elections Act, the next federal election is scheduled for October 20, 2025. However, early elections could be called in the near future, particularly if the government loses a vote of confidence. This could well be the case, as the Conservative Party, the New Democratic Party and the Parti Québécois have repeatedly expressed their desire to overthrow the government and go to the polls.

 

This political context is compounded by trade and economic tensions with the United States

U.S. President Donald Trump's threats to impose tariffs on Canadian imports are contributing to the current climate of uncertainty. While the President granted Canada a one-month reprieve, this week he signed an executive order imposing a tariff on Canadian steel and aluminum, leaving other tariffs in doubt.

These threats have prompted political mobilization at both federal and provincial levels. Premier Legault was in Washington this week with his counterparts from the other provinces to support companies affected by the tariffs and identify solutions. This context raises important economic and trade issues, and revives the question of Canada's economic sovereignty to protect its businesses and purchasing power. The housing sector is also concerned by these issues - not least because of the impact this could have on businesses in the sector, and on the cost of materials. At a time when governments are seeking to stimulate the domestic economy, CORPIQ is convinced that renovation of the housing stock would bring economic benefits, and would like to see incentives in favor of renovation.

CORPIQ is monitoring these issues and the impact they could have on the housing sector.