Mark Carney, former governor of the Bank of Canada and the Bank of England, has been elected as the new leader of the Liberal Party of Canada.
Speaking at the convention, Carney said his guiding principles of governance would be “fiscal responsibility, social justice and international leadership.”
He also thanked his predecessor for being “a fighter for Canada.”
“You have led us through some of the hardest challenges that this nation has ever faced,” Carney said to Trudeau.
All eyes will now be on when he will choose to launch a federal election, with the House of Commons set to return on March 24 and Canada facing what Trudeau described as an “existential crisis” from the U.S. trade war in a speech at the convention.
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“Who’s ready to stand up for Canada with me?” Carney asked the crowd, drawing cheers and applause.
He added, “Two months ago, I put up my hand to run for leader because I felt we needed big changes. But big changes, guided by strong Canadian values.”
Carney in his speech made a pitch for unity, saying: “We are strongest when we are one economy, not 13.”
He added, “I know that these are dark days. Dark days brought on by a country we can no longer trust. We are getting over the shock, but let us never forget the lessons. We have to look after ourselves, and we have to look out for each other. We need to pull together in the tough days ahead.”
Mark Carney’s plunge into politics had been rumoured since the summer, when Trudeau acknowledged that he has been speaking with Carney “for years about getting him to join federal politics.”
Talking about the days to come, Carney said he will “put into action our plan to build a stronger economy, to create new trading relationships with reliable trading partners, and to secure our borders.”
Carney reiterated that he would roll back two key fiscal policies of the Trudeau government.
“I am a pragmatist above all. So when I see that something’s not working, I’ll change it. My government will immediately eliminate the divisive carbon tax” on consumers, and stop the hike in capital gains tax,” he said.
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He added, however, that he would keep Canada’s retaliatory tariffs against the United States and any proceeds from those tariffs would be used to support Canadian workers.
“My government will keep our tariffs on until the Americans show us respect,” he said.
Carney said Donald Trump was trying to weaken Canada’s economy.
“In trade, as in hockey, Canada will win,” he said.
Carney drew a contrast between himself and Conservative Leader Pierre Poilievre in his speech.
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“There’s someone else who, if he succeeds, will weaken our economy. Pierre Poilievre,” Carney said, as the crowd booed and Carney called Poilievre “a lifelong politician who worships at the altar of the free market despite never having made a payroll himself.”
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“Unlike Pierre Poilievre, I’ve actually worked in the private sector. I know how the world works, and I know how it can be made to work better for all of us.”
He added, “Trump thinks he can weaken us with his plan to divide and conquer. Pierre Poilievre’s plan will leave us divided and ready to be conquered. Because a person who worships at the altar of Donald Trump will kneel before him, not stand up to him.”
When he is sworn in, Carney will be the first prime minister since John Turner in 1984 to not be a member of Parliament. Incidentally, Turner stepped in to replace Trudeau’s father Pierre Trudeau.
Trudeau said last week he does not intend to be a caretaker prime minister.
Born in Fort Smith, N.W.T., and raised in Edmonton, Carney earned an undergraduate economics degree from Harvard University and followed that up with master’s and doctoral degrees from Oxford University.
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Four contenders were in the race to replace Justin Trudeau for the top job in the party and as prime minister of Canada. Carney finished in first place 85.9 per cent of the vote, followed by former finance minister Chrystia Freeland in second place, former cabinet minister Karina Gould in third place and businessman Frank Baylis coming in fourth.
Speculation is swirling in Ottawa that the new leader could replace Trudeau as prime minister within a matter of days and then within weeks call an early election.
Justin Trudeau was introduced on stage by his daughter.
“I’m looking forward to seeing more of him at home and less of him online,” said Ella-Grace Trudeau in a speech to the convention. “Dad, I’m so proud of you.”
“Being prime minister of this country has been the honour of my life,” Trudeau said, adding he was looking forward to the next chapter and being with his family.
“Liberals are dedicated to making this country even better not because we think it’s broken but because we have an opportunity and therefore a responsibility to make sure that Canada stays the best country on earth.” Trudeau said.
Reflecting on his time in office, Trudeau said, “These past 10 years have been challenging. Crisis after crisis have been thrown at Canadians. But through every crisis, Canadians have shown who they are … every single time, we’ve emerged stronger.”
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He also warned of the “existential crisis” Canada faces from the United States, where U.S. President Donald Trump has said he wants Canada to become the 51st state.
“We are a country that will be diplomatic when we can, but fight when we must – elbows up!” Trudeau said, drawing chants and cheers of “elbows up!” from the crowd.
The phrase, which is a hockey term for being ready to defend yourself when a game is getting rough or unruly, has become a rallying cry for many Canadians as the country readies for a trade war with the U.S.
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Former prime minister Jean Chretien, who also addressed the convention, said Canada’s relationship with the U.S. was “falling apart before our eyes and is becoming something that is difficult to name.”
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However, he said Canada was ready for the challenge.
“In Canada, our elbows are up. We’re working together to unite to deal with this threat, the threat to our economy and our sovereignty. In other words, our very existence as a country,” Chretien said.
In his speech, Chretien directly addressed Trump.
“From one old guy to another old guy: stop this nonsense,” Chretien said to Trump. “Canada will never join the United States.”
He added that Canada could weather the storm of a trade war and threats to its sovereignty.
“Nobody will starve us into submission. Canada is and will remain the best country in the world. Vive le Canada!”
On Jan. 6, Trudeau said he plans to step down as Canada’s prime minister and leader of the Liberal party.
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Trudeau said he would stay on until a replacement is chosen, while also asking the governor general to prorogue Parliament until March 24.
“Despite best efforts to work through it, Parliament has been paralyzed for months after what has been the longest session of a minority parliament in Canadian history,” Trudeau said, speaking in front of his residence in Ottawa.
“That’s why this morning I advised the governor general that we need a new session of Parliament. She has granted this request and the House will now be prorogued until March 24.”
–with files from Canadian Press
