Mark Carney is the new Liberal leader, replacing Justin Trudeau – National [Video]

Mark Carney, former governor of the Bank of Canada and the Bank of England, has been elected as the new leader of the Liberal Party of Canada.

At a convention that saw crowds in red and white waving mini Canadian flags in Ottawa on Sunday, Carney was announced as the winner and is set to replace Trudeau as prime minister once he is sworn in.

Speaking at the convention, Carney said his guiding principles of governance would be “fiscal responsibility, social justice and international leadership.”

He also thanked his predecessor for being “a fighter for Canada.”

“You have led us through some of the hardest challenges that this nation has ever faced,” Carney said to Trudeau.

All eyes will now be on when he will choose to launch a federal election, with the House of Commons set to return on March 24 and Canada facing what Trudeau described as an “existential crisis” from the U.S. …