Mark Carney to be sworn in as prime minister on Friday

Sources have confirmed to CTV News that prime minister-designate Mark Carney will be sworn in Friday along with his cabinet.

Mark Carney will be sworn in as Canada’s 24th prime minister on Friday, along with his cabinet.

Carney will be taking the reins from Prime Minister Justin Trudeau after decisively winning the Liberal leadership last Sunday on the first ballot.

Gov. Gen. Mary Simon’s office has confirmed the swearing-in ceremony of the prime minister and members of the Canadian ministry will take place in the Rideau Hall ballroom at 11 a.m. EDT.

Carney’s first stop on Monday – his first day as Liberal leader – was the prime minister’s office, to speak with Trudeau about how long of a transition period would be needed. By the end of the day, the prime minister-designate stated the changeover would be “seamless” and “quick.”

In the days since, Carney has been holding meetings with key officials in Ottawa and beyond, and work has been underway behind the scenes to execute the transition of power, both from a bureaucratic and a security standpoint.

The former Bank of Canada and Bank of England governor has also divested all his assets into a blind trust, according to a spokesperson.

Procedurally speaking, Trudeau would visit the governor general on Friday and officially tender his resignation, then Carney would swear the requisite oaths of office and allegiance.

The new prime minister would also unveil his new ministry, which includes all his cabinet picks.

Many of the main players who hold portfolios central to managing U.S. President Donald Trump’s tariffs endorsed Carney during the leadership race. It’s expected they will maintain front bench positions.

Beyond the transition happening in the middle of a deepening trade war, Carney’s rise to power comes as polling shows the Conservatives and Liberals neck-in-neck, amid Canadians’ growing concerns over Canada-U.S. relations.

The same polling shows Trudeau will be officially ending his tenure as prime minister with his favourability at a 12-month high.

During his final speech as Liberal leader, Trudeau said he was “damn proud” of what he helped accomplish over the last decade, even as his agenda was often overtaken by unprecedented global events.

It’s likely Carney will quickly face questions about his intentions when it comes to calling the much-speculated snap spring election. As soon Carney is sworn in, he’ll have the power to trigger an early federal campaign, or take the risk of testing the confidence of his new government in the House of Commons later this month.

With files from CTV News’ Mike Le Couteur and Stephanie Ha