In office
Prime Minister
Liberal Party of Canada
2,880 days in office
42nd Parliament of Canada
03 Dec 2015 - 11 Sep 2019
43rd Parliament of Canada
05 Dec 2019 - 15 Aug 2021
44th Parliament of Canada
22 Nov 2021 - Present

The Canadian federal election of 2021 (officially the 44th Canadian general election) took place on September 20, 2021, and elected members of the House of Commons to Canada’s 44th Parliament. The Liberal Party, led by outgoing Prime Minister Justin Trudeau, won 160 seats, forming a second consecutive minority government.

The Trudeau government had originally made 569 promises in its 2021 campaign platform and press releases. This number was reduced to 352 by an extensive, multi-coder process of sorting promises according to their degree of precision and importance to society. Unclear and less important promises were removed from the analysis.

For an analysis of the achievements of Justin Trudeau’s first government (2015-2019), see Birch and Pétry (2019), Assessing Justin Trudeau’s Liberal Government. 353 promises and a mandate for change, published by Les Presses de l’Université Laval.

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Promise History

3.03.43 - “A re-elected Liberal government will […] [r]equire financial institutions offer flexible repayment options by default if you fall on hard times or face a life event that causes financial stress. This will include a mandatory option for a 6-month deferral of mortgage payments in qualifying circumstances”

Published: Nov 2021
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“11. In support of working with a consumer at risk towards implementing a sustainable arrangement, FCAC expects an FRFI to provide mortgage relief that is temporary in nature, such as: 11.1 waiving prepayment penalties when […] a consumer at risk makes a lump sum payment to avoid negative amortization, or […] a consumer at risk sells their principal residence // 11.2 waiving internal fees or costs for a limited period when activating mortgage relief measures that otherwise would be charged // 11.3 for a limited period, where mortgage relief measures result in negative amortization, ensuring that no interest is charged on interest that has been capitalized. […] For the purposes of this Guideline, a limited period refers to 12 months or less”

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Started tracking on: 22-Nov-2021

Forward. For Everyone.

Published: Nov 2021

Reference Documents

“If your insurance company approves your claim, the payments typically start after a waiting period. This is usually 60 days. There may be a maximum monthly benefit. Most financial institutions offer job loss insurance for a maximum of 6 months. There may also be a limited number of months for which your insurance benefits apply. Some financial institutions require that you submit your claim within a limited period, following a job loss”

“The federal government, through the Financial Consumer Agency of Canada, is publishing a guideline to protect Canadians with mortgages who are facing exceptional circumstances. Specifically, the government is taking steps to protect Canadians and ensure that federally regulated financial institutions provide Canadians with fair and equitable access to relief measures that are appropriate for the circumstances they are facing, including by extending amortizations, adjusting payment schedules, or authorizing lump-sum payments. Existing mortgage regulations may also allow lenders to provide a temporary mortgage amortization extension—even past 25 years”

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