# Mark Carney to be next Canada PM after winning Liberal leadership race

Former central banker will be only second prime minister in Canadian history without a seat in parliament

 in Toronto

Sun 9 Mar 2025 18.33 EDT

Last modified on Tue 11 Mar 2025 09.57 EDT

Mark Carney, the former central banker who oversaw the response to financial crises in North America and the UK, will become the next prime minister of Canada after winning the race to lead the country’s federal Liberal party.

Carney, 59, takes on the role as Canada is locked in a potentially catastrophic , long its closest ally and largest trading partner. Last week Donald Trump announced a 25% tax on all Canadian goods, with a carveout for the automotive and energy sectors. The tariffs have the power to push Canada’s fragile economy in a recession.

“America is not . And Canada never, ever, will be part of America in any way, shape or form,” Carney told supporters, laying bare the existential crisis that has outraged Canadians, riven the longstanding relationship with the US, and promises to be the overarching theme in his tenure as prime minister.

“We didn’t ask for this fight. But Canadians are always ready when someone else drops the gloves,” Carney said. “So the Americans, they should make no mistake, in trade as in hockey, Canada will win.”

Before the announcement, the outgoing prime minister, , electrified the crowd by telling Liberals he was “damn proud” of his government’s legacy.



But he warned of dangerous time for the country. “This is a nation-defining moment. Democracy is not a given. Freedom is not a given. Even Canada is not a given,” he told supporters.

He also drew on the “elbows up” rallying cry to intense applause – a phrase from ice hockey legend Gordie Howe popularised in recent weeks after threats from Trump to annex Canada.

It is unclear when Carney, who was governor of the Bank of Canada from 2008 to 2013 and governor of the Bank of England from 2013 to 2020, will assume office. Trudeau and the new Liberal leader are expected to hold conversations in the coming days to determine the outgoing prime minister’s final day in office.

With 85.9% of the vote, Carney beat the former finance minister Chrystia Freeland, the former government house leader Karina Gould and the former member of parliament Frank Baylis.

Carney has followed an : he will be only the second Canadian prime minister with no concrete links to parliament at the time of his appointment, including no seat in the House of Commons. While no rule bars this, convention suggests Carney will need to quickly announce plans to run for a federal seat.

He will also be the first Liberal prime minister from western Canada, a valuable identity in a country that is politically divided along geographical lines.

Carney spent much of his campaign pitching himself as an outsider, despite years-long ties to the Liberal party, including serving as an economic adviser to Trudeau, the outgoing prime minister.

His definitive victory, foreshadowed by fundraising success and a spate of key endorsements from senior cabinet members with vast organising networks, could energise the incumbent Liberals.

In recent weeks, the  sharply rebounding to such a degree that a previously expected Conservative majority in the next general election looks increasingly unlikely.

The move in the polls is, in part, explained by repeated threats by Trump to annex Canada. In polling, Carney is widely viewed as the most trusted federal leader to navigate the current trade crisis because of his extensive economic background.

“My government will keep the tariffs on until the Americans show us respect,” said Carney.

Carney also attacked the Conservative leader, Pierre Poilievre, the current frontrunner if an election were held soon, calling him a “career politician” who was running a deeply divisive campaign. “Division doesn’t win in a tariff war,” Carney said.

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9 Oct 2023

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