Mark Carney, the former governor of the Bank of England, has confirmed he is weighing up a bid to succeed Justin Trudeau as Canada’s prime minister.
Trudeau announced on Monday that he would step down after nearly a decade in office, prompting the Liberal party to scramble for a new leader ahead of an impending general election.
Carney, 59, rose to prominence as the first non-Briton to head the Bank of England. He previously led the Bank of Canada from 2008 to 2013, earning a reputation for his cool handling of the global financial crisis. Since leaving the Bank of England in 2020, Carney has served as chair at Brookfield Asset Management and as a United Nations special envoy for climate action and finance.
In a statement quoted by Bloomberg, where he sits as chair of the board, Carney said he was “encouraged” by support from Liberal lawmakers and Canadians who “want us to move forward with positive change and a winning economic plan”. He pledged to consult family members before making a definitive decision.
Speculation around Carney’s possible leadership ambitions has been fuelled by Trudeau’s falling poll numbers in the face of high inflation, record food prices and widespread voter fatigue. The Liberal government’s agenda for carbon pricing is also under fire from the Conservative party, whose leader Pierre Poilievre has labelled Carney “Carbon Tax Carney”.
Pollsters currently give the Conservatives a strong chance of forming a majority government. A recent Angus Reid Institute survey placed Carney second behind former deputy prime minister Chrystia Freeland in a list of potential Liberal leaders.
Trudeau’s resignation comes amid anxiety over Canada’s economic outlook and the possibility of US tariffs under incoming president Donald Trump, which could potentially damage Canadian trade. An election is due before October, though the exact date remains unconfirmed.
Carney’s diverse background — he holds Canadian, Irish, and, since 2018, British citizenship — adds an international element to his profile. His economic pedigree and climate change advocacy might well appeal to Liberals seeking a fresh perspective for a party facing a difficult electoral challenge.
Read more:
Mark Carney considers bid to replace Justin Trudeau in race for Canadian premiership