By Damilola Adeleke

Mark Carney has officially emerged as the new leader of the Liberal Party of Canada, winning with a commanding 85.9% of the votes. His victory follows Prime Minister Justin Trudeau’s resignation earlier this year, setting the stage for Carney to take over as the country’s next prime minister in the coming days.

The former Bank of Canada and Bank of England governor secured 131,674 votes, far surpassing his closest competitor, Deputy Prime Minister Chrystia Freeland, who garnered 11,134 votes. The Liberal Party expressed gratitude to all candidates and shared the detailed results in an infographic.

Party President Sachit Mehra acknowledged the significance of this transition, emphasizing the need for party unity ahead of the 2025 elections. “We must rally together, engage with Canadians, and strengthen our support base to ensure a strong future for Canada,” Mehra stated.

Who is Mark Carney?

Born in the Northwest Territories and raised in Edmonton, Carney holds degrees in economics from Harvard and Oxford. His career spans high-profile financial roles, including serving as a Goldman Sachs executive and later as Canada’s second-youngest central bank governor. He played a crucial role in navigating the global financial crisis and later became the first non-British governor of the Bank of England.

Carney’s political journey began in 2020 when he became an informal advisor to Trudeau’s pandemic recovery plan. In 2021, he publicly aligned with the Liberal Party and fueled speculation about his political ambitions. His book, Value(s): Building a Better World for All, outlined his vision for an economy centered on human values rather than market-driven interests.

Trudeau Bids Farewell After Nearly 12 Years as Leader

As Carney’s leadership win was announced, Justin Trudeau addressed the Liberal Party one last time. “I am incredibly proud of what we have achieved together,” he said, reflecting on his tenure. Trudeau rebuilt the Liberal Party, revitalized its brand, and led it back to power.

Former Prime Minister Jean Chrétien also praised Trudeau’s leadership, highlighting Canada’s strong economic standing within the G7 despite criticisms.

Transition Timeline Yet to Be Announced

Although Carney is now the Liberal Party’s leader, he has yet to assume the role of prime minister. Trudeau has stated he does not intend to stay on in a caretaker role for long and is preparing for a smooth transition. However, an official date for the handover has not been confirmed.

Trudeau will need to formally resign by visiting Governor General Mary Simon, who will then invite Carney to Rideau Hall to take the oaths of office. A timeline for forming a new government and appointing cabinet ministers will follow.

As the political shift unfolds, Canadians await further details on the transition and Carney’s plans for the nation’s future.