Mark Carney Sworn in as Prime Minister, Unveils Leaner Cabinet Focused on Economic Reform

Ottawa – Mark Carney officially took office as Canada’s new Prime Minister on May 13, 2025, with his cabinet sworn in during a formal ceremony at Rideau Hall. Governor General Mary Simon administered the oaths of office, marking a new chapter in Canadian federal leadership following the Liberal Party’s electoral victory.

Carney’s new cabinet features 29 ministers, a sharp reduction from the 39-member team under former Prime Minister Justin Trudeau. The reshuffle reflects Carney’s push for efficiency and economic focus. “Canadians asked for change, and this government is going to deliver,” Carney stated after the ceremony.

Key appointments include Anita Anand as Foreign Minister, replacing Mélanie Joly, who now serves as Industry Minister. François-Philippe Champagne remains Finance Minister, while Dominic LeBlanc continues to handle U.S. and intergovernmental trade. Chrystia Freeland transitions to Minister of Transport and Internal Trade. David McGuinty takes over Defense, and journalist-turned-politician Evan Solomon becomes Canada’s first Minister of Artificial Intelligence.

The cabinet maintains gender parity, with women holding half the positions, continuing a precedent set during Trudeau’s tenure. Regional diversity is also represented, with five Members of Parliament from British Columbia included in the team.

Carney outlined a strategic direction aimed at reducing reliance on the U.S. economy, investing in innovation, and removing trade barriers. He reaffirmed the government’s plan to eliminate provincial trade restrictions by July 1. However, the platform’s projected C$130 billion in new spending over four years has drawn attention, with the 2025–26 deficit expected to rise to C$62.3 billion—up from the previous forecast of C$42.2 billion.

The business community is closely watching the new cabinet for signals of economic and trade priorities. As Carney takes the helm, expectations are high for a reset in domestic policy and Canada’s global economic positioning.