Mark Carney wins liberal leadership, set to replace Justin Trudeau as Canada’s PM

Mark Carney has been elected the new leader of Canada’s Liberal Party, winning nearly 86% of the votes cast by 151,899 registered party members. His victory secures his position as the next Prime Minister, replacing Justin Trudeau, who announced his resignation in January after leading the country for nearly a decade. Carney defeated former Deputy Prime Minister Chrystia Freeland, former cabinet minister Karina Gould, and businessman Frank Baylis in the leadership race.

Carney, 59, previously served as the governor of both the Bank of Canada and the Bank of England but has never held elected office. He is expected to assume the role of Prime Minister in the coming days and will have to contest a seat in Parliament in the next federal election. A snap election may be called earlier than the scheduled October vote, as recent polls indicate a narrowing race between the Liberals and the opposition Conservatives.

In his victory speech at the Rogers Centre in Ottawa, Carney highlighted economic challenges and external threats, particularly from the United States. “We needed big changes, guided by strong Canadian values,” he said. He warned that “Americans want our resources, our water, our land, our country,” referring to growing trade tensions and policy disputes. He also pledged to strengthen Canada’s economy, expand infrastructure, and build new trading partnerships.

Outgoing Prime Minister Justin Trudeau addressed supporters before the leadership announcement, reflecting on his decade in power. "I am damn proud of what we've done over these past 10 years for the middle class and the people working hard to join it," Trudeau said. He recalled that when he became Liberal leader in 2013, the party was in third place and credited its resurgence to his leadership. He urged party members to continue working for Canada's future.

Carney’s campaign included commitments to economic stability, energy investments, and fiscal responsibility. He has also supported eliminating the consumer carbon tax, halting a planned capital gains tax increase, reducing government spending, and accelerating energy pipeline development—some policies aligned with the Conservative Party’s platform. His leadership comes amid rising concerns about Canada’s economic trajectory and foreign policy challenges.

Carney will meet with Governor General Mary Simon in the coming days to formally assume office. His leadership tenure will focus on positioning the Liberal Party for the next election, with a strong emphasis on economic policies, national security, and international trade. The transition marks the end of Trudeau’s leadership, concluding his 12-year tenure as Liberal leader and nearly 10 years as Prime Minister.