News Summary

Mark Carney, the former governor of the Bank of Canada, has been sworn in as Canada’s new prime minister, succeeding Justin Trudeau. In his newly announced cabinet, Anita Anand has been appointed as the Minister of Innovation, Science, and Industry, replacing François-Philippe Champagne, who will now serve as the Minister of Finance. Anand, who previously served as the Minister of Transport and Internal Trade, is expected to bring urgency to her new role, particularly in prioritizing economic security and the scaling of Canadian firms. The Council of Canadian Innovators has emphasized the need for immediate action to support domestic companies. Carney’s cabinet is notably smaller and more focused, aiming to protect Canadian workers amid U.S. trade threats and to grow the economy through strategic investments. Carney has also pledged to repeal certain controversial tax changes introduced under the previous government.