Former Bank of Canada governor Mark Carney is entering the race to lead the Liberal party, while Prime Minister Justin Trudeau announces his departure from politics.
Mark Carney , the former Bank of Canada governor, is set to launch his bid for the leadership of the Liberal party on Thursday in Edmonton, a full week before the deadline to enter the race. This move comes as Prime Minister Justin Trudeau announced his intention not to seek re-election in his Montreal riding in the upcoming federal election.
Carney, along with former finance minister Chrystia Freeland and government House leader Karina Gould, are considered frontrunners in the race to succeed Trudeau. The Liberal party has set a tight timeline for the leadership contest, requiring candidates to pay a substantial $350,000 entrance fee in four installments. This high entry fee, coupled with the short campaign duration, is expected to significantly narrow the field of contenders. Political analysts believe that Carney and Freeland, both with extensive experience and strong networks, are well-positioned to secure the necessary funding.The Liberal party has also imposed a $5 million spending cap on the leadership race, aiming to control campaign costs. However, some experts believe this limit is excessive for such a short campaign. In comparison, the 2013 Liberal leadership race, which lasted almost a year, had a spending limit of $950,000. The party has also set a debt limit for candidates of $200,000 at any point during the race.Trudeau's decision to step down has created a leadership vacuum within the Liberal party. The next leader will face the immediate challenge of preparing the party for a potential early election. With the Conservatives and New Democrats also gearing up for the next federal election, the outcome of the Liberal leadership race will have significant implications for the Canadian political landscape
LIBERAL PARTY MARK CARNEY JUSTIN TRUDEAU LEADERSHIP RACE CANADIAN POLITICS
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