The Liberal Party of Canada has emerged as the winner in the parliamentary elections, according to projections by Canadian media. However, it remains unclear whether it will form a majority or minority government. The Liberal Party received just under 43% of the votes, while the Conservatives got approximately 42%. However, the percentages are limited in their significance as Canada uses a simple majority electoral system. A majority government in the Canadian Parliament requires 172 of the total 343 seats.
Mark Carney, a former central banker who became the Prime Minister only a few weeks ago, helped swing the vote for his party after polls earlier in the year had almost guaranteed a defeat. Canadians had turned away from the former Prime Minister Justin Trudeau and polls suggested that the Conservative leader Pierre Poilievre would win the long-awaited majority.
However, Trudeau’s resignation, the trade stance of US President Donald Trump and his repeated remarks about making Canada the 51st state, significantly changed the political landscape. The Liberals campaigned on an anti-Trump platform. Carney cited his time as Governor of the Bank of Canada during the global financial crisis of 2008 and as head of the Bank of England during the Brexit years as proof that Canadians should trust him to steer the country’s economy through turbulent times.