The former governor of the Bank of England has become leader of the country’s Liberal Party, as Lora Jones reports.
Former Bank of England governor Mark Carney will replace Canadian Prime Minister Justin Trudeau after winning a landslide victory to become leader of the Liberal Party on Sunday.
The 59-year-old was chosen by the Liberal Party after Trudeau announced his resignation in January, but remains prime minister until a successor is chosen and sworn in.
Election laws mandate a general election before autumn, but one is expected this spring.
He won 85.9% of the vote compared to his closest rival, former Deputy Prime Minister Chrystia Freeland, who received just 8% of the vote. Freeland’s scathing criticism of the Trudeau government triggered the road to his resignation.
Carney navigated crises when he was the head of the Bank of Canada and when in 2013 he became the first noncitizen to run the Bank of England since it was founded in 1694.
His appointment won bipartisan praise in the UK after Canada recovered from the 2008 financial crisis faster than many other countries.
The opposition Conservatives had hoped to make the election about Trudeau, whose popularity declined as food and housing prices rose and immigration surged.
But they are now being forced to reshape their message with Trudeau’s departure and the new administration in the US.
Donald Trump’s trade war and his talk of making Canada the 51st US state have infuriated Canadians, who are booing the American anthem at NHL and NBA games.
Some are canceling trips south of the border, and many are avoiding buying American goods when they can.
The surge in Canadian nationalism has bolstered the Liberal Party, which a few months ago was languishing around 20 points down in opinion polls.
But in recent weeks they have dramatically closed the gap with the Conservatives, with some polls saying they are now within a chance of winning an election.
“We have made this the greatest country in the world and now our neighbours want to take us. No way,” Carney said.
He went on to say: “We didn’t ask for this fight. But Canadians are always ready when someone else drops the gloves.”
“The Americans, they should make no mistake, in trade, as in hockey, Canada will win.”
Trump has again postponed 25% tariffs on many goods from Canada and Mexico for a month, amid widespread fears of a broader trade war.
But he has threatened other tariffs on steel, aluminum, dairy and other products.
Canada has also said it will keep its retaliatory tariffs in place until the threat of the US tariffs is taken off the table altogether.
Although Carney was the centre of the night at the convention where he was announced as winner of the race, Trudeau’s final speech as leader won rounds of applause from the crowd.
He urged Liberals to fight for the next election saying: “This is a nation-defining moment. Democracy is not a given. Freedom is not a given. Even Canada is not a given.”
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