Canada's Political Shift May Impact Economic Outlook

According to Odaily, Tony Stillo, Director of the Canada Economics Department at Oxford Economics, has indicated that the agenda of Canada's Conservative Party could significantly influence the country's economic prospects from 2025 onwards. This comes as Prime Minister Justin Trudeau has decided to resign and has requested Governor General Mary Simon to prorogue Parliament, allowing the Liberal Party to select a new leader. Stillo suggests that a federal election might be held in May, with polls indicating a potential majority win for the Conservatives. The party is expected to focus on balancing the budget and repaying national debt. However, their plan to abolish the federal carbon tax is seen as economically neutral, as it would lower gasoline prices immediately but also end carbon rebates.