Justin Trudeau will resign as leader of Canada’s governing party on Monday after he returned from a ski holiday to an open revolt within his party over the soaring cost of food and the country’s housing crisis.

Mr Trudeau, who has been prime minister since 2015, will announce that he intends to step down as Liberal leader but will stay on in his post until the party has chosen a replacement, CBS News reported.

Once the golden boy of Canadian politics Mr Trudeau experienced a sharp decline in his popularity as the cost of living soared.

It comes after his finance minister and key ally Chrystia Freeland quit over disagreements surrounding how the Canadian government should respond to the threat of sweeping tariffs from Donald Trump’s incoming administration.

Mr Trudeau subsequently announced a major shake-up to his cabinet, changing a third of his team in a bid to settle the political turmoil.

Before Christmas, Mr Trudeau faced a mini revolt by 24 MPs following the shock resignation of Chrystia Freeland, the deputy prime minister, finance minister and long-time ally to the prime minister.

Mr Trudeau’s imminent decision to stand down comes at a time when the Liberals are on course for a drubbing at the hands of the Conservatives in a general election later this year.

The Canadian prime minister was last week filmed being berated by a voter, who told him to “get the f**k out” as he holidayed at a ski resort in British Columbia.