Justin Trudeau says he will lead Liberals into the next election

The Liberal Party behind Canadian Prime Minister Justin Trudeau tried to force him out this week, or at least 20 MPs did, but the move looks like a failure.

They held a meeting yesterday and told him to make up his mind by Monday. He reportedly told caucus he would take some time to reflect after hearing their concerns about his viability as leader.

Evidently he didn’t need much time as he just announced that he will lead the party into the next election.

That election could come very soon as the Bloc Quebecois gave him a deadline of Oct 29 to meet pension demands or they would withdraw support. There is still a decent chance the NDP will prop him but but he’s extremely unpopular and his Liberal Party would be routed in any election, barring a miracle.

This is how parliament would likely look based on the latest polls.

An influx of immigration has become a major issue in Canada and in response, Liberals yesterday leaked much lower immigration targets, which were confirmed today.

• reducing from 500,000 permanent residents to 395,000 in 2025
• reducing from 500,000 permanent residents to 380,000 in 2026
• setting a target of 365,000 permanent residents in 2027

he lower numbers already have telecom analysts warning that profits will be lower in the industry in the years ahead. Canada’s per capita GDP has been receding for many quarters and consumer spending per capita has retrenched in 7 of the past 8 quarters but the economy has continued to grow due to 3% population growth.

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