Canadian Prime Minister Justin Trudeau has announced that he will not be running in the federal elections scheduled for October 2025. After serving as Canada’s Prime Minister for nearly nine years, this announcement comes amidst growing pressure from opposition parties and within his own party. These pressures intensified following the resignation of Finance Minister Chrystia Freeland, leading Trudeau to decide to step down as Prime Minister once his party elects a new leader.
Prime Minister Justin Trudeau’s decision to step down has been shaped by criticisms of his government’s policies and growing public dissatisfaction. After nearly a decade in power, Trudeau has faced significant criticism, particularly regarding rising living costs and the housing crisis. The resignation of Finance Minister Chrystia Freeland, a close ally of Trudeau, after opposing his calls for increased spending, was another factor that accelerated his decision to leave office. At a press conference held in Ottawa, Trudeau announced that he would step down after the Liberal Party elects a new leader and stated that a comprehensive and competitive process would be proposed for selecting the party’s leader. Furthermore, he confirmed that he would not run in the election scheduled for 2025 and would continue to serve as Prime Minister until a new leader is elected.
Following Trudeau’s decision to step down, the Liberal Party has turned its focus to the leadership race. Although the official process has not yet begun, some prominent candidates have already declared their candidacies to win the race. These candidates will play a key role in shaping the party’s preparations for the next federal election. Among the frontrunners in the leadership race are former Bank of Canada Governor Mark Carney and former Deputy Prime Minister Chrystia Freeland.
The leadership race is officially set to begin on January 23, 2025, with candidates required to notify their parties of their candidacy and make a specified payment. The new leader of the Liberal Party will be announced on March 9, 2025. This date is expected to be a significant turning point in determining the course of the upcoming elections.
Mark Carney, former Governor of the Bank of Canada and the Bank of England, is one of the prominent figures in the Liberal Party leadership race. Carney presents himself as an outsider with the necessary financial expertise to address Canada’s economic issues. In his campaign speech, Carney vows to take steps to restore the economy by addressing the economic challenges Canada faces.
Carney is a figure with both public and private sector experience. Before his time at the Bank of Canada, he held an executive position at Goldman Sachs and served as the Governor of the Bank of England following the 2008 Global Financial Crisis. After leaving the Bank of England in 2020, he worked as the United Nations Special Envoy for Climate Action and Finance and held senior executive roles at major firms such as Brookfield Asset Management.However, Carney’s candidacy has been criticized by his rivals. The opposition Conservative Party emphasizes that Carney is not “an outsider candidate”, as he has been involved with the Liberal Party for many years.
Chrystia Freeland, the former Finance Minister of Canada, was one of Justin Trudeau’s closest political allies. However, she resigned in December 2024 due to disagreements over government policies. Freeland criticized the government’s approach by writing a letter opposing the Prime Minister’s requests for increased spending. This unexpected departure accelerated Trudeau’s decision to step down.
Freelan’s candidacy is being closely watched. As one of the key figures of the Liberal Party, Freeland has significant experience, particularly in Canada’s foreign policy and trade agreements. During her tenure as Finance Minister, she shaped Canada’s economic policies and also played an active role in the country’s trade relations with the United States.
The leadership race within the Liberal Party is just the beginning of the path toward Canada’s upcoming federal elections. After the new leader is chosen, the Liberal Party will decide on the strategy it will adopt for the election in October 2025. Polls indicate that, given the current state of the Liberal Party, the opposition Conservative Party is expected to achieve a major victory in the elections.
Trudeau’s resignation from leadership has created significant uncertainty about the future of the Liberal Party. The party’s next leader will have to earn the public’s trust, particularly on crucial issues such as housing prices, cost of living, and climate change. These challenges will be among the key tasks the new leader will need to address.
Despite the uncertainty within the Liberal Party, Canada’s largest opposition party, the Conservative Party, is gaining increasing support under the leadership of Pierre Poilievre. Poilievre is preparing for the elections by attempting to capitalize on the public’s dissatisfaction with the government and economic issues. His populist approach has gained more attention, especially with the rising cost of living and dissatisfaction with government policies.
The elections scheduled for October 2025 in Canada will be a critical turning point for the country’s political future. The internal turmoil within the Liberal Party and the rising support for the Conservative Party could reshape Canada’s political landscape in the upcoming election. The leadership struggle within the Liberal Party will be decisive for Canada’s future. Whether the new leader will succeed in this process will depend on their ability to tackle Canada’s economic and social issues. This election will serve as a significant test for Canada’s future.
