Editing Pierre Trudeau (section)

====Inflation====
While popular with the electorate, Trudeau's promised minor reforms had little effect on the growing rate of inflation, and he struggled with conflicting advice on the crisis.{{sfn|English|2009|p=246}} In September 1975, [[Minister of Finance (Canada)|finance minister]] John Turner resigned over refusing to implement [[wage and price controls]].<ref>{{cite AV media |url=https://www.youtube.com/watch?v=6suF6U71yEQ |title=Beyond Politics - John Turner |publisher=[[CPAC (TV channel)|CPAC]] |date=July 2, 2013 |via=YouTube}}</ref> In December 1975, in an embarrassing about-face, Trudeau and new Finance Minister [[Donald Stovel Macdonald|Donald Macdonald]] introduced wage and price controls by passing the ''[[Anti-Inflation Act]]'', despite campaigning against them in the 1974 election. Amongst its many controls, it limited pay increases for federal government employees and employees in companies with over 500 workers to 10 percent in 1976, 8 percent in 1977, and 6 percent in 1978. The Act also established the anti-inflation board which oversaw the implementation of wage and price controls and had the ability to recommend decreases in prices of goods, wage cuts, and rebates to customers of various services.<ref name="Wageandpricecontrols">{{cite web |last1= |first1= |title=Wage and Price Controls |url=http://www.canadahistory.com/sections/eras/eras.html |website=Canada History |access-date=March 27, 2023 |archive-url=https://web.archive.org/web/20230201224522/https://www.canadahistory.ca/sections/eras/trudeau/Wage%20and%20Price%20Controls.html |archive-date=February 1, 2023 |url-status=dead }}</ref> The breadth of the legislation, which touched on many powers traditionally considered the purview of the provinces, prompted [[Reference re Anti-Inflation Act|a Supreme Court reference]] that only upheld the legislation as an [[Peace, Order, and Good Government|emergency requiring Federal intervention]] under the ''[[British North America Act]]''. During the annual 1975 Christmas interview with [[CTV Television Network|CTV]], Trudeau discussed the economy, citing market failures and stating that more state intervention would be necessary. However, the academic wording and hypothetical solutions posed during the complex discussion led much of the public to believe he had declared capitalism itself a failure, creating a lasting distrust among increasingly [[neoliberalism|neoliberal]] business leaders.{{sfn|English|2009|pp=290-94}} The controls lasted until 1978 and the anti-inflation board was dissolved in 1979.<ref name="Wageandpricecontrols" />