Mark Carney was sworn in as Canada’s 24th prime minister on March 14 following his victory in the Liberal Party of Canada leadership race on March 9.
Despite not having a seat in the House of Commons, Carney won the leadership with 85.9 per cent of the vote in his favour — defeating three other candidates vying for the position.
Justin Trudeau previously announced his intent to resign on Jan. 6, 2025, stepping down as prime minister after nearly a decade in office.
His resignation was influenced by his declining public backing with recent polls, leaving the Liberal party with 16 per cent of support. This was in addition to Liberal MPs urging him to step down due to the worries that the party would face substantial electoral loss.
“This country deserves a real choice in the next election, and it has become clear to me that if I’m having to fight internal battles, I cannot be the best option in that election,” he said after announcing his intent to resign.
As of January 2025, the Conservative Party of Canada, the Official Opposition in the House of Commons, sustained the lead over the Liberals in polls for months.
Carney, the former governor of the Bank of Canada and the Bank of England secured victory in the leadership race in the first round of voting — accumulating over 131,000 votes.
Former finance minister and deputy prime minister Chrystia Freeland earned second place with over 11,000 votes, followed by former House leader Karina Gould with over 4,700 votes and former MP Frank Baylis with over 4,000 votes.
During his leadership victory speech, Carney stated, “I feel like everything in my life has helped prepare me for this moment.”
The new cabinet is composed of 23 ministers, down from 36 under former prime minister Trudeau. Carney assured Canadians that he is prepared to confront U.S. President Donald Trump and the Trump administration’s threats to impose tariffs, including on aluminium and steel.
In reference to Canada’s triumph at the 4 Nations Face-Off in February, Carney said, “the Americans should make no mistake — in trade, as in hockey, Canada will win.”
“President Trump has put some very important issues at the top of his agenda. We understand his agenda,” Carney said.
“We’re both looking out for our countries. But he knows, and I know from long experience, that we can find mutual solutions that win for both.”
Canada has no plans of becoming the 51st state of the U.S. in response to President Trump’s threats of annexation, according to Carney.
“We will never, in any shape or form, be part of the U.S.,” he stated.
Promises by Carney include the reversal of certain Trudeau policies such as the consumer carbon tax and the surge in capital gains tax — stating that his team believes that builders should be rewarded when they take risks and succeed.
“My government will immediately eliminate the consumer carbon tax on families, on farmers and small and medium-sized businesses,” he said.
Canada is scheduled to have a federal election by Oct. 20, 2025, but there is speculation that Carney will send Canadians to the polls sooner to secure approval and support from the Canadian public, according to CBC.
