Copyright © HT Digital Streams Limit all rights reserved. Opinion Deepanshu Mohan 4 Min Read 30 Apr 2025, 03:30 IST Carney’s poll Victory indicates a voter preference for competence over charisma, stability on disruption. (Bloomberg) Summary of the Liberal Party’s victory in Canada will be remembered, not only as one of the most dramatic comebacks in election history worldwide, but also for his unique context – the turmoil caused by Trump. Mark Carney’s Liberal Party win in the Federal Election of Canada can be remembered as one of the biggest political turnaround in election history. A year ago, the political landscape of Canada favored the Conservative Party, led by Pierre Poilievre. The seat in Canada’s House of Commons gives the liberals a fourth consecutive term in power, as they are within a mustache of the majority point of 172 seats, with the conservatives left by two dozen seats. Carney’s steady, policy -driven campaign reassured voters in a time of unrest brought about by US President Donald Trump’s hostile rhetoric, trade threats and talks of annexation, which fueled the fear of Canadian sovereignty. His message sounded strong, even in non-liberal provincial blows such as Quebec, where liberals secured almost half the seats and exceeded the Bloc Québécois. Carney is now facing the difficult task of leading a rattled country with high inflation, housing pressure and global instability. Also read: Mint Quick Edit | Carney’s Poll Vault: India’s impressed to Trump effect: Trump’s attitude towards Canada played a critical role in shaping Carney’s campaign. US tariff policies and threats of economic disconnection have affected Canadian households, especially in border provinces. Relationships in Canada-American were therefore an urgent matter in these polls. Economic anxiety was exacerbated by rising prices and stationary wages, as many Canadian struggles to end. Canada’s inflation rate peaked at 8.1% in June 2022, the highest since 1983. Although it has moderated to 2.3% in the past year, it is still about the Canadian households. Rental prices have climbed nationwide and budgets already stretched by rising grocery bills amid stationary wages. The Bank of Canada attributes inflation to disruptions of the supply chain, struggles to the coding recovery and shocks such as the war in Ukraine. Opinion contents showed that many Canadians were the reaction of the established liberal government under the previous Prime Minister Justin Trudeau that it was slow and inadequate. Carney, a former central banker, promised change. It provoked hope. On inflation, both parties offered diverse reactions. The liberals have introduced policy such as expanding benefits and reviewing capital gains tax rules. Conservatives, on the other hand, promised the tax reforms, including a reduction in the basic federal income tax rate of 15% to 12.75%. Economists were skeptical that one of the platforms could fundamentally change the fiscal track of Canada in the short term. Also read: Carney still has to make his mark; Manmohan Singh made his housing long ago, was another dominant matter this election. With the average Canadian home priced at around $ 678,000, the Liberal Plan GST release for newly built houses under $ 1 million proposed. The conservative platform increased that ceiling to $ 1.3 million, while the rapid approval and greater federal availability of land for housing were promised. None of the parties tackled the core structural problem: The urban demand radiated the supply of the house, especially in Toronto and Vancouver. Public Health Care, a pillar of Canada’s socio-political identity, returned to the national conversation. After pandemic-related disruptions and shortage of financing, the average of surgery and specialist consultations reached 30 weeks. The liberals promised renewed investment in public health care. The conservatives supported to expand private options through tax credits, causing a debate on whether such a move would erode the public system. Contrasting leadership style: Carney’s technocratic tone and extensive background in economic management have sharply contrasted with Poilievre’s more control and populist rhetoric. Carney came down as severe, empathetic and well prepared, while Poilievre focused on emotional appeals and an anti-elite narrative. Role of economic anxiety: Although the above factors were all relevant, the political map of Canada was really a broad fear under Canadians of Trump’s actions, economic decline and national instability. This election was unique as it was characterized by a search for insurance on the future of the country. This factor favored Carney. Also read: Trump rates: Central banks can’t afford to wait and watch foreign policy forever, was a matter of top level for many voters, especially supporters of the Liberal Party, as the polls revealed. The party -wise divergence reflects a deeper ideological split. For many conservatives, Trump represented a transactional ally. For liberal and centers, he poses a direct threat to Canadian sovereignty, values and trade. Canadian’s perception of the US has shifted dramatically. Only 15% of citizens now regard the US as an unambiguous ally, while 49% describe it as unfriendly or hostile, according to recent polls. In this context, Carney’s experience on the global stage and diplomatic tone stood in stark contrast to Poilievre’s inner economic nationalism. The victory of Carney’s poll indicates a voter preference for competence over charisma, stability on disruption. Still, he may need the support of other parties to govern, and must produce results. As far as India is concerned, we have a window to recalibrate our relationship with Canada now that the ruling Liberal Party’s new leader has a polling mandate. Ankur Singh contributed to this article. The author is Professor and Dean, on Jindal Global University, visiting professor, London School of Economics, and a visiting research fellow at the University of Oxford. Catch all the business news, market news, news reports and latest news updates on Live Mint. Download the Mint News app to get daily market updates. More Topics #india Canada #Canada Visa #Tariff Hike Mint Specials
