Mark Carney to replace Justin Trudeau as Canada’s next prime minister

Mark Carney won the Liberal Party leadership race with 131,674 votes which is about 85.9 per cent of the ballots.

Mark Carney was announced as the next Liberal Party leader and the 24th prime minister of Canada on Monday, with former Bank of Canada chief set to succeed Justin Trudeau at Ottawa's top office.

Mark Carney has also served as the governor of the Bank of Canada and Bank of England. (Reuters)

Liberal Party president Sachit Mehra announced former UK and Canada central bank chief Mark Carney's victory in the Liberal leadership race.

Carney was the front-runner to succeed Trudeau as the leader of the Liberal Party. He has served as the 8th governor of the Bank of Canada from 2008 to 2013. He also served as the chair of the Financial Stability Board from 2011 to 2018.

The former Goldman Sachs executive earned fame when he helped Canada avoid one of its most catastrophic outcome of the 2008 financial crisis. The countrymen recognize him as the most reliable politician to deal with US President Donald Trump, polls had suggested.

Carney had once likened Trump to Voldemort, the antagonist from Harry Potter.

Mark Carney won the leadership race with 131,674 votes which is about 85.9 per cent of the ballots. His competitors Chrystia Freeland bagged 11,134 votes, Karina Gould secured 4,785 votes and Frank Baylis bagged 4,038 votes.

Before his address to the Liberal Party convention, Carney was introduced onto the stage by his daughter Cleo Carney.

‘Canada strong’

Cleo described her father as a "man of commitment" to his core, adding that he is "unflinchingly dedicated to what matters, focused and principled".

In his opening remarks, Mark Carney described Canada as "strong". He said, "This room is strong, this room is Canada strong."

He referenced the speech of former prime minister Jean Chrétien and said that he inspired his family to become liberals, adding that his father had decided to run as a liberal candidate in Alberta back in the 1980s.

"You (Chretien) inspired me over the years and now to have an opportunity to continue your tradition of fiscal responsibility, social justice and international leadership," he said.

He asserted that at the current moment, all that is required of Canadians is to stand up for Canada. Carney further affirmed that the Liberal Party remains strong and united and ready to fight to build a better nation.

The former Bank of Canada chief noted that his new government will put in place a new plan to build a stronger economy, adding that he wants to secure firm relations with "reliable" trade partners.

Addressing Trump's tariff threats, Carney said "we cannot let him succeed and we won't". He added that the retaliatory measures will remain in place until the US can join hands with Canada to make credible and reliable commitments of free and fair trade.

He said that with Americans wanting Canadian's resources, land and country, it would destroy the way of life of Ottawa residents.

He slammed America for running healthcare as an alleged business, whereas appreciating it being a right in Canada. “America is not Canada. Canada will never be a part of America in any way, shape or form,” he said.

Political outsider

Notably, the 59-year-old Carney is a political outsider, meaning he has never held office, a fact which in normal circumstances would have played against him in the leadership race. However, his distance from Trudeau and a high-profile career in the banking sector played to his benefit, with Carney arguing that he is the only one prepared to deal with Trump.

In a leadership debate last month, Carney had said, "I know how to manage crises ... in a situation like this, you need experience in terms of crisis management, you need negotiating skills." According to Carney's arguments, Canada will fight against Trump's tariffs threats.

Carney was born in Fort Smith in the remote Northwest Territories and attended Harvard where he was also a star ice hockey player.