OTTAWA – Attention is turning quickly in Ottawa to who will replace Justin Trudeau, who announced Monday he will step aside as prime minister and Liberal leader as soon as a new leader is chosen.

Some former Liberal advisers are divided on how quickly the process should move. With Parliament set to resume on March 24, there’s little time for Trudeau’s successor to lead before the government likely falls at the earliest confidence vote. However, a rushed leadership race may prevent the party electorate from thoroughly assessing the candidates.

No sitting MP has officially declared their intention to run, but speculation is rife. Potential contenders include Foreign Affairs Minister Melanie Joly, former Finance Minister Chrystia Freeland, Finance Minister Dominic LeBlanc, and others such as Transport Minister Anita Anand and Energy Minister Jonathan Wilkinson.

Other notable names include former B.C. premier Christy Clark and ex-Bank of Canada governor Mark Carney. Carney expressed gratitude for the support he’s received and emphasized the need for “positive change and a winning economic plan” to defeat opposition leader Pierre Poilievre.

Former Montreal MP Frank Baylis became the first to publicly declare his intention to seek the leadership in an interview with The Hill Times.The leadership race promises to set the tone for the future of the Liberal Party as it prepares for a challenging political landscape ahead.