OTTAWA, March 9, 2025 (BSS/AFP) – Canada’s Liberal Party appears poised to select a former central banker and political newcomer as its next leader, replacing Prime Minister Justin Trudeau as the party faces increasing pressure from US President Donald Trump.
Mark Carney, who has served as governor of both the Bank of Canada and the Bank of England, is widely expected to be named the new leader of the Liberal Party when results from a vote of approximately 400,000 party members are announced later on Sunday.
The primary challenger is Trudeau’s former deputy prime minister, Chrystia Freeland, who held various senior cabinet positions in the Liberal government that was first elected in 2015.
The new leader will take over from Trudeau as prime minister but will soon face a general election, with current polls indicating the rival Conservative Party as slight favourites to win.
Carney has garnered significant endorsements, including from much of Trudeau’s cabinet, and a victory for Freeland would be seen as a surprise, given her close association with Trudeau’s government as they approach the upcoming election.
Despite publicly distancing herself from the prime minister in December, analysts suggest voters continue to associate Freeland with Trudeau’s unpopular record.
Both Carney and Freeland have argued that they are the most capable candidates to defend Canada against Trump’s frequent attacks.
The US president has previously discussed the possibility of annexing Canada and has repeatedly caused disruption in bilateral trade – a crucial sector of the Canadian economy – through a series of unpredictable tariff policies since taking office.
‘Most Serious Crisis’ –
Carney has positioned himself as a seasoned economic manager, pointing to his leadership during the 2008-2009 financial crisis when he was at the Bank of Canada, and his management of the Bank of England during the turbulence that followed the 2016 Brexit vote.
“Trump is attacking what we build. He is attacking what we sell. He is attacking how we earn our living,” Carney said during a closing campaign rally near Toronto on Friday. “We are facing the most serious crisis in our lifetime. Everything in my life has prepared me for this moment.”
Recent data from the Angus Reid polling firm shows Canadians regard Carney as the preferred candidate to face off against Trump, which could provide the Liberals with an advantage over the opposition Conservatives.
Forty-three percent of respondents said they trusted Carney most to handle Trump, compared to 34 percent backing Conservative leader Pierre Poilievre.
Despite this, most polls still indicate that the Conservatives are the favourites to win the election, which must be held by October but could take place sooner.
Not a Politician? –
Before entering the Canadian civil service, Carney earned a fortune as an investment banker at Goldman Sachs.
Since leaving the Bank of England in 2020, he has worked as a United Nations envoy, promoting private sector investment in climate-friendly technology, and has held roles in the private sector.
He has never served in parliament or held an elected public office, a fact that some analysts believe could be a liability in a contest with the Conservatives, who have already launched attack ads accusing Carney of shifting positions and misrepresenting his experience.
At 59, Carney has positioned himself as a fresh voice, untainted by Trudeau’s leadership, which he has said focused too little on building Canada’s economy.
On Friday, Carney remarked that Canadians “from coast to coast” were calling for change, and jokingly referred to himself as a political outsider: “It’s getting to the point where after two months I may have to start calling myself a politician.”
Trudeau has confirmed that he will agree to a transition of power once the new Liberal leader is chosen, though he has not specified a date. Once the transition is set, both leaders will visit Canada’s Governor General Mary Simon – the official representative of King Charles III in Canada – who will assign the new Liberal leader the task of forming a government.
The new prime minister’s tenure could be short-lived, depending on the timing and outcome of the upcoming election.
Supplementary Information:
Mark Carney’s candidacy has generated considerable attention, partly due to his impressive credentials in international finance and governance. His potential leadership of the Liberal Party is seen as a pivot away from the status quo, with many Canadians eager for change after years of leadership under Trudeau. However, Carney’s lack of traditional political experience could play a significant role in how his leadership is received by the electorate, especially when pitted against seasoned political figures like Conservative leader Pierre Poilievre.