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Justin Trudeau hosted the most important cabinet meeting of his time as prime minister on Tuesday morning.

Nothing – not even the ministerial deliberations over NAFTA – were as critical to the health and wealth of Canadians as his government’s response to the twin threats of the COVID-19 outbreak and tumbling financial markets.

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The word “existential” is overused but the Trudeau government’s next steps will dictate not only its own prospects but those of businesses, workers and seniors all over the country. Trudeau has not been at the helm when the seas have been really choppy – he is about to face the most critical test of his political career.

Canadians are looking for reassurance – a sense that there is a plan to keep them and their families safe and employed.

Oddly, the prime minister was missing in action on Monday, as the price of a barrel of oil slid below the cost of a 16-piece bucket of KFC. He did not address the nation directly on Tuesday, choosing instead to take part in the charade of question period.