Federal Liberals to announce new leader on March 9

Liberals will choose their next leader — and Canada’s next prime minister — on March 9, the party said in a media release on Thursday night.

After a frenzy of formal and informal meetings this week following Justin Trudeau’s decision to step down as prime minister, the Liberal Party’s national council decided on the date Thursday night.

The party is also setting the entry fee for potential candidates at $350,000, sources said — a significant jump from the $75,000 fee set by the party for the previous leadership race.

Candidates will have to declare their intention to run and pay the entry fee by Jan. 23. People can register with the party to vote in the leadership race up until Jan. 27.

Changes to who can vote

The party is limiting who can vote to Canadian citizens and permanent residents who are at least 14 years old.

Previously, non-Canadian residents were allowed to vote in Liberal Party riding nomination and leadership contests, which have been called a “gateway” for foreign interference. A growing contingent of Liberal MPs have urged the party executive to heed those warnings.

A number of cabinet insiders — including Foreign Affairs Minister Mélanie Joly, Innovation Minister François-Philippe Champagne, Natural Resources Minister Jonathan Wilkinson and Employment Minister Steven MacKinnon — have said they are considering running for the top job, but said they want to see the rules first.

The party executive did not say if cabinet ministers would have to vacate their portfolios if they want to run for the top job.

Former central banker Mark Carney has also said he’s interested. Former finance minister Chrystia Freeland, former B.C. premier Christy Clark and House Leader Karina Gould are said to be gathering supporters, too.

Prior to Thursday’s meeting, Ottawa MP Chandra Arya and former Montreal MP Frank Baylis both said they will be running.

Whoever is chosen to take over for Trudeau, they will have a tight timeline before the House of Commons returns.

Gov. Gen. Mary Simon has prorogued Parliament until March 24, giving the new prime minister only a few weeks to make the transition.