Finance Minister Chrystia Freeland has announced her resignation from the federal cabinet, placing the blame on Prime Minister Justin Trudeau for her decision.
The announcement came in a letter she shared on X (formerly Twitter) Monday morning before Freeland was scheduled to present the fall economic statement before the House of Commons and less than an hour before a lock up of journalists for an embargoed reading of the document was due to begin.
Department of Finance officials confirmed just after 1:30 p.m. Eastern that the fall economic statement will be delivered as per schedule at 4 p.m. Eastern Monday.
In the letter addressed to Trudeau, Freeland wrote, “On Friday, you informed me that you no longer want me to serve as your Finance Minister and offered me another position in Cabinet.”
“Upon reflection, I have concluded that the only honest and viable path is for me to resign from Cabinet,” she added.
Freeland, 56, further noted that in recent weeks, she has found herself increasingly at odds with Trudeau.
The post sent at 9:07 a.m. Eastern came just hours before the scheduled start of a lock up in Ottawa for the fall economic statement.
Global News asked Freeland’s office whether she would be delivering the fall economic statement. A press secretary said that what happens with the fiscal update is a question for the Prime Minister’s Office or the Department of Finance.
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“In light of the new information we just received, the Department of Finance Canada is determining next steps for the embargoed 2024 Fall Economic Statement documents,” the Department of Finance said in a statement Monday.
‘Costly political gimmicks’
In Freeland’s letter, she said, “Our country today faces a grave challenge. The incoming administration in the United States is pursuing a policy of aggressive economic nationalism, including a threat of 25 per cent tariffs.”
“We need to take that threat extremely seriously. That means keeping our fiscal powder dry today, so we have the reserves we may need for a coming tariff war. That means eschewing costly political gimmicks, which we can ill afford and which make Canadians doubt that we recognize the gravity of the moment.
Freeland said this entails pushing back on the “American First” economic nationalism and working in good faith with provinces and territories to build a “Team Canada” response.
She expressed confidence that Canadians would “recognize and respond to such an approach.”
“They know when we are working for them, and they equally know when we are focused on ourselves,” she said. “Inevitably, our time in government will come to an end. But how we deal with that threat our country currently faces will define us for a generation, and perhaps longer. Canada will win if we are strong, smart, and united.”
Freeland concluded by stating that it is with this conviction that she has been driven in her efforts this fall to manage the nation’s spending in a way that provides the flexibility needed to address the serious challenges ahead.
“I will always be grateful for the chance to have served in government and I will always be proud of our government’s work for Canada and Canadians,” she said.
“I look forward to continuing to work with my colleagues as a Liberal Member of Parliament, and I am committed to running again for my seat in Toronto in the next federal election.”
Speaking to reporters before a cabinet meeting on Monday, Treasury Board President Anita Anand called Freeland a “good friend.”
“Chrystia Freeland is… someone I worked with very, very closely as president of the Treasury Board and Minister of Transport. This news has hit me really hard and I’ll reserve further comment until I have time to process this report,” she said.
Freeland was first elected to the House of Commons in 2015, representing the Toronto riding of University-Rosedale. She swiftly advanced within the Liberal Party, serving initially as minister of international trade, then as deputy prime minister, before being appointed minister of finance in 2020.
There was no immediate reaction from Trudeau’s office.
Ontario Premier Doug Ford reacted to Freeland’s resignation on Monday during a press briefing.
He said “no” when asked if he had spoken with Freeland over the weekend about her decision but added that “we all are” concerned about her resignation.
“There’s nothing more important to the world and Canada that we are project unity,” he said.
— with files from Global News’ Saba Aziz
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