On January 6, 2025, Trudeau announced his resignation as Prime Minister and leader of the Liberal Party.[1] On January 16, 2025, Carney formally announced his intent to run in the leadership election and become Liberal Party leader.[2][3] On March 9, 2025, he won the leadership election with 85.9% of the overall vote, becoming the next leader of the party and Prime Minister, succeeding Trudeau.[4][5] Trudeau stayed on as Prime Minister until his formal resignation in the early morning of March 14, 2025 prior to Carney's swearing in later that morning.[6][7]
Carney does not hold a seat in the House of Commons, similar to the previous premierships of Charles Tupper, Arthur Meighen, and John Turner; all three individuals lacked seats in the House of Commons at the time of their initial appointment as Prime Minister.[8][9][10] Carney is running in Nepean in the 2025 federal election.[11][12] Upon taking the oath of office, he became the first Canadian prime minister born in any of the territories and the third born west of Ontario (after Joe Clark and Kim Campbell). He is the second prime minister to have earned a PhD, after William Lyon Mackenzie King. Additionally, he is the first to have never served in prior elected office, and the first since John Turner not to be sitting in the House of Commons at time of appointment.
Removal of the consumer portion of the carbon pricing policy
Shortly after being sworn in as Prime Minister, Carney signed a prime ministerial directive that directed the Governor General to sign an order in council to immediately reduce the consumer price of carbon to $0 starting on April 1, 2025, thereby effectively terminating the consumer portion of Canada's carbon pricing policy, but allowing the final carbon rebate payment to go to individuals as scheduled. Carney stated the policy had become too 'divisive' among the Canadian public, resulting in the necessity for it to be removed. The policy was originally implemented in 2018 through the Greenhouse Gas Pollution Pricing Act, which was passed during Trudeau's first term. The industrial levy on carbon remains in place.[13][14]
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