Pundits are calling it the $600 million (US$470 million) cabinet shuffle. That’s the official estimate of the cost of running a federal election that changed almost nothing in Canadian politics.

Prime Minister Justin Trudeau’s Liberal Party emerged with 158 seats, one more than in the 2019 election, with some mail-in ballots still to be counted. The Conservatives won 119, down two. The status quo prevails. 

Trudeau will be forced to make some changes to his cabinet after two ministers were defeated in their districts; it’s tradition to freshen the roster after an election, anyway. But all of the people holding major economic posts kept their seats in Canada’s House of Commons.

Finance Minister Chrystia Freeland will remain at the center of the action as Trudeau’s most reliable minister, and Industry Minister Francois-Philippe Champagne easily won his Quebec district. If he stays in that role, he’ll be responsible next year for a final decision on one of the biggest deals ever in Canada -- Rogers Communications Inc.’s proposed $20 billion telecom takeover of Shaw Communications Inc.