A former banker with no previous political experience, Carney took over as leader of the Liberal Party earlier this year.

His party is now set to form Canada’s next government, marking a historic comeback for a party that seemed on the brink of collapse just a few months ago.

Supporters erupted in cheers at a packed Ottawa sports arena, where the Liberals held their election night celebration, after Canada’s national broadcaster CBC projected a win for Carney shortly after 10:00 p.m. EST.

Supporters erupted in cheers at a packed Ottawa sports arena, where the Liberals held their election night celebration, after Canada’s national broadcaster CBC projected a win for Carney shortly after 10:00 p.m. EST.

Artur Widak/Anadolu via Getty Images

In his first address to the nation, the 60-year-old Liberal leader didn’t hold back, warning Canadians of a shifting global landscape