Mark Carney has been elected as the new leader of the Liberal Party, delivering a fiery victory speech vowing to stand firm against U.S. President Donald Trump and Conservative Leader Pierre Poilievre.
Carney secured a decisive win on the first ballot with 85.9% of the vote, cementing his leadership in a race triggered by Prime Minister Justin Trudeau’s resignation. The former Bank of Canada and Bank of England governor is set to become Canada’s 24th prime minister within days.
Party President Sachit Mehra announced the results, revealing that Carney outpaced former finance minister Chrystia Freeland, who finished a distant second with 8% support. Former cabinet minister Karina Gould and businessman Frank Baylis followed, each securing around 3%.
Before the results were unveiled, the candidates thanked their supporters for reinvigorating the party—momentum Carney now aims to harness.
Carney’s Vision: A Stronger Canada Amid Global Challenges
A total of 151,899 Liberal members cast ballots, with 131,674 backing Carney to lead Canada through turbulent times, including an unpredictable trade war with its closest ally.
Under his leadership, the party is expected to adopt the slogan “Canada Strong” as it heads into an anticipated federal election. In his victory speech, Carney wasted no time attacking Poilievre and Trump, positioning himself as the leader Canada needs in uncertain times.
“They know that new challenges demand new leadership,” Carney said. “Canadians want positive leadership that will end division and help us build together.”
He vowed to maintain tariffs on the U.S. until Canada receives “respect,” emphasizing that while the country did not seek this trade conflict, Canadians are always ready to fight when challenged.
“Donald Trump thinks he can weaken us with his plan to divide and conquer. Pierre Poilievre’s plan will leave us divided and ready to be conquered,” Carney declared.
Despite never having held elected office and currently lacking a seat in Parliament, Carney confirmed he will run in the next election.
Trudeau’s Farewell: “Damn Proud of What We’ve Done”
Before the results were announced, Trudeau addressed the crowd for the last time as party leader, reflecting on his nearly 12-year tenure.
“I am damn proud of what we’ve done,” he said, marking the end of a political career that saw him rebuild the party and return it to power.
Trudeau’s daughter, Ella Grace, introduced him, expressing pride while joking that she looks forward to seeing him more at home and less online.
Former Liberal prime minister Jean Chrétien also spoke, thanking Trudeau for his leadership and emphasizing Canada’s strength despite criticism.
The Race and Carney’s Path to Victory
Throughout the campaign, candidates sought to differentiate themselves, with some pledging to shift away from core Trudeau policies like the carbon tax. However, Carney dominated, securing more caucus and cabinet endorsements and raising nearly $3 million more than his rivals.
Poilievre has already made Carney a primary target, launching attacks as the Conservatives gear up for an election battle.
Freeland, whose resignation in late 2024 helped set the leadership race in motion, campaigned on her ability to challenge Trump but struggled to gain traction. Gould, praised for her debate performances, appealed to younger voters with a vision of generational change, while Baylis positioned himself as a fresh alternative to Trudeau’s legacy.
Despite some frustration over the party’s electronic voting system, officials assured that the process was secure.
Who is Mark Carney?
Born in the Northwest Territories and raised in Edmonton, Carney studied economics at Harvard and later earned a master’s and doctorate from Oxford.
A former Goldman Sachs executive, he became the second-youngest governor of the Bank of Canada, steering the country through the 2008 financial crisis. In 2013, he took the helm of the Bank of England, the first foreigner to do so in its 300-year history.
Carney later advised the Trudeau government on pandemic recovery efforts and officially joined the Liberal Party in 2021. His book, Value(s): Building a Better World for All, advocates for an economy rooted in human values rather than market forces.
After years of speculation, Carney confirmed his political ambitions just 10 days after Trudeau announced his resignation.
Transition to Prime Minister and Possible Early Election
While Carney is now the Liberal leader, he has yet to formally take office as prime minister. Trudeau has expressed his intent to transition power swiftly but has not set a specific resignation date.
Once Trudeau officially steps down, Governor General Mary Simon will invite Carney to form a government. Speculation suggests this could happen as early as Tuesday or Wednesday.
Carney’s next challenge will be deciding whether to immediately call an election. The next fixed election date is October 20, but many expect him to capitalize on momentum and send Canadians to the polls as soon as next week.
Alternatively, he could recall Parliament on March 24 and attempt to govern without a seat—though a swift non-confidence vote could force an election regardless.
With a turbulent trade war, a divided electorate, and a high-stakes political showdown on the horizon, Carney’s first days in power will be anything but quiet.
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