MARK Carney has been announced as Canada’s new Prime Minister after Justin Trudeau stepped down from the role.
The Liberal Party members confirmed the 59-year-old’s new position on Sunday night at the Rogers Center in Ottawa.
He saw off rival Chrystia Freeland, Trudeau’s former deputy prime minister, and won 85.9% of the total votes.
Carney held significant roles as the governor of both the Bank of Canada and the Bank of England during the 2008 financial crisis and the aftermath of the 2016 Brexit referendum, making him a popular choice.
The political novice was the front-runner for the role after Trudeau announced his resignation in January as he faced a crushing election defeat.
He received a slew of support including endorsements from the majority of Trudeau’s cabinet.
Meanwhile, Trudeau spoke his final words as the prime minister of Canada.
In front of a large audience of party members, he began his speech by stating: “I take great pride in our accomplishments over the past decade. However, tonight is dedicated to our future as a party and as a nation.”
He went on to say, “Our nation needs your support now more than ever. I am confident that you will rise to the occasion, as you have done in the past. Liberals are ready for this challenge.
He describes it as a “nation-defining moment”, adding: “Democracy is not a given, freedom is not a given, even Canada is not a given.”
The process to choose Canada’s next PM began on February 26 with the almost 400,000 Liberal Party members voting online through a verified process and ranking their favourites.
Carney, a centrist, will be taking over as PM at a turbulent time as Canada faces tariff and annexing threats from US President Donald Trump, which saw Trudeau hold back tears in his final days.
The new leader is expected to trigger an election shortly afterward. Either the new Liberal party leader will call one, or the opposition parties in Parliament could force one with a no-confidence vote later this month.
On Tuesday, the US slapped a brutal 25 per cent tariff on all goods imported from Canada, and despite a softening from Trump, the damage has been done.
This is a challenge, Carney says he is more than prepared to take on.
At his final rally on Friday, the former governor slammed Trump, accusing him of “attacking” Canada.
He said: “He is attacking what we build. He is attacking what we sell. He is attacking how we earn our living.
“We are facing the most serious crisis in our lifetime. Everything in my life has prepared me for this moment.”
Trump has – on multiple occasions – said that it would be a “great idea” to make Canada the 51st state of the US.
Carney said that Canada will never be part of America “in any form or shape”.
Polling from earlier in the week by the firm Angus Reid showed that the majority of Canadians from across the political spectrum back Carney as their choice to face off with the American president.
It is hoped that the PM will be able to see the governing Liberals through the upcoming federal election as current polls show a narrow win by the rival Conservative Party.
According to data collected by Angus Reid, 43 per cent of Canadians back Carney to deal with Trump compared to the 34 per cent who support Tory leader Pierre Poilievre.
A win by Freeland would have shocked Liberals and made them more fearful of an election loss.
Thanks to Trudeau’s unpopularity following his scandal-hit decade in power, she would have struggled to shake off the connection as the Conservatives attack the former Prime Minister’s record.
The election, which must take place by October 20, could happen in a matter of weeks so Carney will have to hit the ground running to win over voters.
Carney’s new role as Prime Minister is his first position in parliament and elected office – something that could work in his favour or be to his detriment in the upcoming election.
He has sold himself to supporters as a breath of fresh air for the Liberal Party, as there is no overlap with himself and Trudeau.
At his closing rally he said that across the country, Canadians want change and that he, as a political outsider, can give them that.
“It’s getting to the point where after two months I may have to start calling myself a politician,” he joked with supporters.
The new PM has vowed to boost Canada’s economy and build more homes while dropping Trudeau’s carbon tax and replacing it with a pricing system that will target industrial polluters.
Ousted Trudeau has said he will agree to a transition of power with an exact date set to be announced shortly.
Carney will then have to call a general election before the fall.
Since leaving Threadneedle Street in 2020, Mr Carney has been very critical of Brexit, blaming it for rising inflation.
He told MPs that the vote to leave the EU had lowered the UK’s economic growth by as much as 2 per cent.
Speaking at a Treasury select committee in 2018, Mr Carney said: “Real household incomes are about £900 lower than we forecast in 2016.
“The question is why and what drove that difference. Some of it is ascribed to Brexit.”
