Former Bank of Canada Governor Mark Carney has received the most support from members of the ruling Liberal Party to succeed Justin Trudeau as prime minister.
Points of attention
- Mark Carney, a former Bank of Canada Governor, has emerged as the leading candidate to succeed Justin Trudeau as the next Prime Minister of Canada.
- Carney has a strong financial background and aims to focus on restoring the economy and safeguarding Canada's interests in dealings with the United States, particularly on issues like tariffs and investment.
- Despite being a newcomer to politics, Carney's victory signals a significant shift in leadership for the Liberal Party and a potential revival of their fortunes in Canada.
Mark Carney to become Prime Minister of Canada
Carney, 59, won the vote ahead of former Finance Minister Chrystia Freeland, who came in second, according to official voting results.
In total, a little more than 150,000 party members participated in the vote.
On January 6, Trudeau announced that he would step down after more than nine years as Canada's prime minister. With his approval ratings plummeting, the Liberal Party was forced to hold a quick contest to replace him.
Carney is considered a "newcomer" to politics, having previously argued that he is best suited to rebuild the party and oversee trade talks with US President Donald Trump, who is threatening additional tariffs.
Carney's victory marks "the first time an outsider with no real political background has become prime minister of Canada."
During the election campaign, Carney said he supported appropriate tariffs against the US on a dollar-for-dollar basis, as well as a coordinated strategy to stimulate investment.
In addition, Carney has repeatedly complained that Canada's economic growth under Trudeau has been "insufficient."
Western observers also note that the prospect of a new start for the Liberal Party under Carney, combined with Trump's tariffs and his repeated taunts about "annexing Canada as the 51st state of the United States," have led to a significant revival of the Liberals' fortunes in Canada.
Carney previously said he was going to "focus entirely on getting our economy back on track."
I have helped overcome numerous crises and helped save two economies. I know how business works, and I know how to make it work for you.
Mark Carney
Canadian politician
At the same time, according to the Conservatives, there is not much difference between Carney and Trudeau. The former Bank of Canada governor has close ties with Trudeau, who appointed him head of the economic growth task force last September.
Carney worked at Goldman Sachs before joining the Canadian Ministry of Finance in 2004. He was appointed governor of the Bank of Canada in 2007 and quickly had to deal with the fallout from the 2008 global crisis.
In 2013, Carney took over as governor of the Bank of England, becoming the first person to lead two major central banks.
After leaving the bank in 2020, Carney was appointed as the UN Special Envoy for Climate and Finance. He also served as a senior executive at Brookfield Asset Management and on the boards of companies including bond investor PIMCO and fintech giant Stripe.
