Ex-Bank of England governor Mark Carney enters race to be Canadian PM
Former Bank of England governor Mark Carney has entered the race to replace Canadian prime minister Justin Trudeau.
“I’m doing this because Canada is the best country in the world, but it could still be even better,” said Carney as he formally announced his bid in Alberta.
The announcement came after months of speculation over Carney’s position in the race, after it became clear that the Liberal Party would be looking for a new leader.
Trudeau stepped down earlier this month after nine years as Canada’s prime minister, ahead of the election that must be held by October 2025.
While he has served as an economic adviser to the government, Carney is the only candidate in the race who is not an elected member of the government.
Carney headed up the central bank until 2020, where he became known as the ‘unreliable boyfriend’ due to his policy of forward guidance. He also led Canada’s central bank from 2008 to 2013.
He was the first non-Briton to hold the position since the Bank’s founding in 1694, with his tenure overseeing a turbulent period that included Brexit.
Since leaving the Bank of England, Carney has focused heavily on green finance, founding the Glasgow Financial Alliance for Net Zero and becoming a UN special envoy for climate change.
He is also currently chair of Canadian money manager Brookfield Asset Management, as well as sitting on the board of Bloomberg.
“Too many are falling behind. Too many young people can’t afford a home. Too many people can’t find a doctor,” Carney said at his campaign launch.
“And then on top of that … in just four days, the United States will swear in Donald Trump as their 47th president, a man who threatens economic force on his closest, most steadfast allies, including Canada.”
Former finance minister Chrystia Freeland is also rumoured to announce a leadership bid in the coming days, with the leadership election scheduled for 9 March.