Mark Carney, aged 59 and a former governor of both the Bank of England and the Bank of Canada, has secured a decisive mandate to become Canada’s next prime minister.
In a dramatic leadership contest, Carney claimed 85.9 per cent of the votes cast by Liberal Party members, comfortably succeeding Justin Trudeau.
Despite his notable career in finance—he once worked at Goldman Sachs—Carney is a relative newcomer to elected politics. He has never served in Canada’s parliament or held public office. Nevertheless, he will replace Trudeau, who steps down after nearly a decade in power, having announced his resignation amid poor polling and internal cabinet discord at the start of the year.
In his farewell address to party members before the result, Trudeau warned of an “existential challenge” from the United States, a reference to President Trump’s trade war rhetoric and claims that Canada should become “America’s 51st state.” Carney struck a similarly defiant tone in his acceptance speech, labelling relations with the US as “dark days” and asserting that “America is not Canada.” The incoming prime minister cautioned that the US “wants our resources, our water, our land, our country,” adding, “We did not ask for this fight, but Canadians are always ready when someone drops the gloves. The Americans should make no mistakes, in trade as in hockey, Canada will win.”
Carney was introduced by his daughter, Cleo, a Harvard student, who praised him as “unflinchingly dedicated to what matters, focused and principled.” With national elections due later this year, political analysts expect Carney may call an early vote to capitalise on the Liberals’ sudden revival in public opinion polls. Just months ago, the party trailed by over 20 points; it is now on par with the opposition Conservatives, helped by widespread disapproval of Trump’s aggressive trade stance and perceived threats of US annexation.
During the campaign, Carney highlighted his economic credentials, recalling his leadership of the Bank of Canada through the 2008–09 financial crisis and his stewardship of the Bank of England following the 2016 Brexit vote. Observers suggest these achievements resonate with Canadians who feel embattled by Trump’s frequent imposition of tariffs and threats of further levies on Canadian exports.
Chrystia Freeland, Trudeau’s former finance minister, was once favoured to assume the Liberal leadership but never seriously challenged Carney’s bid. His status as a political outsider appears to have played to his advantage, drawing broad endorsements from members of Trudeau’s cabinet and a large proportion of Liberal MPs.
According to polling data released by Angus Reid, 43 per cent of Canadians see Carney as the most capable figure to handle Trump. The Conservative leader, Pierre Poilievre, trails behind with 34 per cent support on that question.
In the coming days, Carney and Trudeau will meet Governor General Mary Simon, the King’s representative in Canada, who will ask the newly elected Liberal leader to form a government. Once sworn in as prime minister, Carney is expected to move swiftly to unite the party, build public support and prepare Canada for an early general election.
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Mark Carney confirmed as Canada’s new prime minister in landslide Liberal victory