BREAKING: Canadian Prime Minister Justin Trudeau to consider resigning or discontinuing current Parliament: report

CTV reported that "Sources tell CTV News Prime Minister Justin Trudeau is considering resigning or proroguing parliament and he may address parliament this afternoon."

Conservative Party leader Pierre Poilievre has announced that he is considering bringing a vote of no confidence against the prime minister later on Monday. Poilievre said that the Trudeau government needs to table its Fall Economic Statement and trigger a non-confidence vote in the House of Commons that could bring down the Liberal government.

Finance Minister Chrystia Freeland resigned from cabinet Monday, just hours before she was scheduled to deliver the statement that is expected to contain a federal deficit of at least $60 billion and not the $40 billion that Freeland has promised to deliver.

“Maybe the answer is just for them to table the FES [Fall Economic Statement] and let's vote up or down on the FES; it would be a confidence motion. I think the answer is to table the FES, the fall economic update, and let the House of Commons vote up or down, and if the fall economic update is defeated, then it would be a non confidence vote, and we proceed to a carbon tax,” Poilievre said.

Poilievre reached out to “patriotic liberals across the country, my message is this, you supported this government in good faith because you thought it was the right thing for the country."

Poilievre told reporters Monday that "the Government of Canada itself is spiraling out of control right before our eyes, and at the very worst time today, mere hours before Trudeau, finance minister was to deliver a fall economic update that was expected to smash through her already massive deficit targets. She announced she no longer has confidence in the prime pinister. Canadians were already anxious about the reckless $40 billion deficit the government had announced last spring, but today, in mere hours, they were expected to learn that it was much higher than that, threatening our social programs and our fiscal stability right in the middle of a potential trade war," he said.

Trudeau has hoped his Team Canada strategy would bolster his government's support. He has been desperately trying to forge a united front in Canada against President-elect Donald Trump’s threats to impose a 25 percent tariff on all Canadian products in retaliation against Trudeau’s loose border policies. Trump has also offered to made Canada the 51st state and Trudeau its governor since the prime minister visited the president-elect at Mar-a-Lago during the Thanksgiving weekend.

This is a developing story.