In 1977 , following the resignation of Finance Minister Donald MacDonald , Chrétien succeeded him . He was the first francophone Minister of Finance , and remains one of only three francophones to have held that post . Chrétien 's time at Finance highlighted his " enforcer " status , namely as someone who often helped to execute Trudeau 's policies , but who rarely helped Trudeau to make policy . During his time at Finance , Trudeau completely excluded Chrétien from any role in making financial policy , instead expecting Chrétien to simply carry out the policies that he and his advisors at the PMO had decided beforehand without consulting Chrétien at all . Trudeau was extremely close to the West German Chancellor Helmut Schmidt , and during the 1978 G7 summit in Bonn , Trudeau had extensive discussions with his friend Schmidt about how best to win re-election in 1979 . Schmidt suggested to Trudeau that he respond to criticism of the deficits he had been running by bringing in some big cuts to spending , an idea that Trudeau took up . In 1978 Trudeau announced in a press statement $ 2 billion in cuts without bothering to inform Chrétien beforehand about what he had decided to do , leaving his finance minister looking clueless in the resulting press interview . Chrétien found this experience so humiliating that he seriously considering resigning in protest . Chrétien was especially humiliated by the fact that Chancellor Schmidt was better informed of about what was going to happen than he was , which underlined that he was not a member of Trudeau 's inner circle
1978 G7
4th G7 summit
Jean Chrétien