Mark Carney, the former governor of the Bank of Canada, is seen here officially announcing his bid for the federal Liberal Party leadership at Laurier Heights Community League in Edmonton, Canada, on Jan. 16, 2025.
When was the vote supposed to happen? Canadian law requires that an election be held by Oct. 25, 2025. Federal elections last between 37 and 51 days and must be held on a Monday, so a March 10 call would mean a vote on April 21. Opposition parties are already planning to bring nonconfidence motions when Parliament reconvenes on March 24 to oust the minority government and force an early vote.
Why would Liberals call an early election? The resignation of Prime Minister Justin Trudeau, US President Donald Trump’s tariff threats, and talk of Canada as the 51st state have changed the political conversation. The ballot question has shifted from the government’s economic record to who can best take on Trump.
As a result, the Liberals’ poll numbers have risen dramatically. If Carney were leader, they would be tied withPierre Poilievre’s Conservatives, according to a new Leger survey. Since the opposition wants to force a vote anyway, there is arguably little to gain by waiting.
But it’s not a done deal. Liberal leadership candidate Chrystia Freeland says she would not hold an early election, citing the fact that, unlike Carney, she has a seat in Parliament and “would have the right to stand up in the House of Commons and to represent the government.” The timing could hinge on who wins the leadership – and where polls go between now and then.Robotaxis, autonomous trucks, and drone networks are moving closer to reality. As costs fall and infrastructure grows, physical AI is unlocking new markets and business models. See what's driving the next era of mobility by subscribing to Bank of America Institute.
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Canadian Prime Minister Mark Carney attended a meeting of the European Political Community in Armenia this weekend, a first by the leader of a non-European country. He was invited to discuss common interests in trade, energy, and security. In a speech that echoed his address to the World Economic Forum in Davos two months earlier, Carney called on middle powers, including Canada and European nations, to work together in the wake of disruption of the established world order — implicitly pointing to the United States. “It’s my strong personal view that the international order will be rebuilt,” he told the crowd in Yerevan, “but it will be rebuilt out of Europe.”