After months of speculation about his political ambitions, former Bank of Canada and Bank of England governor Mark Carney has officially announced his candidacy for leadership of the Liberal Party of Canada. Carney launched his campaign in his hometown of Edmonton, Alberta, this Thursday (16). The election of the new liberal leader is scheduled for March 9.
If Carney wins, at age 59, he will succeed Prime Minister Justin Trudeau and lead the country into the next general election later this year. Earlier this month, Trudeau announced his intention to step down after nine years in office, a decision that came after mounting pressure for him to step aside.
“I’m doing this because Canada is the best country in the world, but it can be even better,” said Carney when launching his candidacy. He highlighted the challenges facing the country, such as the housing affordability crisis, stagnant wages and the threat of climate change. “People are anxious, no wonder. Many are being left behind,” he added.
Carney also mentioned the threat of tariffs from U.S. President-elect Donald Trump, who takes office next Monday, saying Canada is facing extraordinary times. “I helped manage multiple crises and saved two economies,” Carney said in his presentation. “I know how business works and how to make it work for you.”
With a wealth of economic experience, Carney previously worked at Goldman Sachs and served as Canada’s central banker from 2008 to 2013, when the country became the first G7 nation to raise interest rates following the financial crisis. He then moved to London, where he was governor of the Bank of England until 2020, leading efforts to support the UK economy during Brexit, although he faced criticism that some of his early interventions were seen as overly political. In recent months, Carney has served as a special adviser on economic issues to Trudeau.
