The former central bank governor Mark Carney has been chosen as the new leader of the Liberal Party in Canada, replacing Prime Minister Justin Trudeau, party president Sachit Mehra announced on Sunday.
The 59-year-old economist won the election to leadership of the Liberal Party with 85.9% of the votes, prevailing over his main rival, former deputy prime minister Chrystia Freeland.
As Trudeau’s successor, Carney is also expected to assume the role of prime minister temporarily and to stand as his party’s lead candidate in much anticipated new elections in a few weeks in the world’s second-largest country by land area.
The former head of the English and Canadian central banks entered the race for party leadership with an economy-focused, centrist agenda.
In the trade war with the United States, he intends to continue Trudeau’s course of resolute resistance.
Carney made his first speech as leader immediately after Mehra’s announcement, telling cheering supporters “everything” in his life had prepared him for the moment.
“My parents were teachers, and they stressed the importance of hard work, of community and of tolerance,” he said.
“My [hockey] coaches were dedicated volunteers who taught me the importance of teamwork, ambition and, because it’s Canada, humility.”
Carney pledged to “work day and night with one purpose, which is to build a stronger Canada for everyone.”
According to a survey by the broadcaster CTV News, 40% of Canadians believe that Carney would be the best politician for negotiations with Trump, significantly more than the 26% support for the opposition Conservative leader, Pierre Poilievre.
Carney is also seen as competent because national and international crisis management is not unfamiliar to him.
During the global financial crisis, beginning in 2008, the man who was born in Northwest Territories and grew up in the Canadian province of Alberta led his home country’s central bank.
Carney is partly credited with Canada’s relatively good recovery.
During Brexit, he was then the governor of the Bank of England, and until January, Carney served as the UN special envoy for climate finance.
The Liberal politician promises a fundamental reform of the economy with tax relief for the middle class, reduction of bureaucratic hurdles, and stronger promotion of innovation and investment.
Carney advocates closer collaboration with Europe and Asia to reduce dependency on trade with the US.
Trudeau must set a date with Carney for the handover of government affairs and formally resign. This is expected to happen in the coming days.
The new prime minister may wish to adjust the Cabinet, although existing ministers might remain in office in light of the anticipated new election.
Parliament is set to reconvene on March 24.
The opposition plans to hold a vote of no confidence, which should trigger new elections in the coming months.
However, Carney could also declare his minority government failed himself and call for new elections before this date.
This could be a tactical move, as the Liberals have recently gained significantly in polls.
For months, a shift of power to the Conservatives under Poilievre was considered highly likely.
However, following Trudeau’s announcement of his resignation and the extraordinary threat situation due to US President Donald Trump tariffs, the race is now open again, according to the polls.
Carney’s election also marks the end of the era of Trudeau, who steps down after more than nine years as prime minister.
Trudeau had become increasingly unpopular in recent years due to a series of reforms and modernization in Canada, primarily because of rising prices, scarce housing and unmet election promises.
Trudeau has been the leader of the Liberal Party for around 11 years and prime minister since the end of 2015.
Initially, he promised positive politics and “sunny ways” and was celebrated by many as a beacon of hope.
With his wife Sophie Grégoire, from whom Trudeau is now separated, and their three children, the son of former prime minister Pierre Trudeau (1919-2000) formed a “First Family” with a youthful and dynamic image, similar to US president John F Kennedy at the start of his tenure in 1961.
The pressure on the prime minister has recently increased significantly: His approval ratings plummeted and calls for his resignation grew louder – especially following deputy prime minister Freeland’s high-profile resignation as finance minister, which further damaged Trudeau.
