Mark Carney, the former Bank of England governor known for his climate-focused economics and for being the first non-Briton to lead the Bank, is reportedly considering entering the race to replace Justin Trudeau as Canada’s prime minister.
On Monday, Trudeau announced his decision to step down after nearly a decade in power, once the Liberal party elects a new leader. This opens the door to a competitive leadership contest ahead of a general election later this year.
Carney, 59, said in a statement quoted by Bloomberg, where he serves as chair of the board of directors, that he would be “considering this decision closely with my family over the coming days.” A longtime and prominent member of the Liberal party, Carney expressed being “encouraged” by the support of Liberal lawmakers and people “who want us to move forward with positive change and a winning economic plan.” Speculation about Carney possibly seeking high office has intensified in recent months, as Trudeau’s popularity has dropped amid soaring inflation, a severe housing crisis, high food prices, and voter fatigue.
Trudeau’s resignation follows concerns that tariffs imposed by incoming U.S. president Donald Trump could severely harm Canada’s economy.
Carney’s supporters believe he has the experience to navigate the country through periods of instability. His diverse, international career includes roles as chair of Brookfield Asset Management, a major Canadian alternative asset manager, and as the UN special envoy for climate action and finance.
Carney holds Canadian and Irish citizenship and became a British citizen in 2018. In September, the Liberal party appointed Carney to lead a task force on economic growth.
However, the Liberal party faces a tough challenge, with the opposition Conservatives currently expected to win a majority in government, according to recent polling. Conservative leader Pierre Poilievre has dismissed Carney, referring to him as “Carbon Tax Carney,” a nod to the fuel tax introduced by Trudeau.
A poll by the Angus Reid Institute on Friday, conducted before Trudeau’s announcement, found Carney in second place among the candidates most likely to succeed Trudeau as Liberal leader. Former deputy prime minister Chrystia Freeland, whose resignation last month fueled calls for Trudeau to step down, was in the top spot.
Canada is scheduled to hold elections before October, though an exact date has yet to be determined.
