Mark Carney, the former governor of the Bank of England and Bank of Canada, is considering entering the race to replace Justin Trudeau as Canada's prime minister, according to supporters who say his experience could guide the country through instability.
Trudeau announced on Monday he would step down after nearly a decade in power once the Liberal Party chooses a new leader, triggering a leadership contest ahead of a general election later this year. Carney, 59, said in a statement quoted by Bloomberg, where he chairs the board of directors, that he would be 'considering this decision closely with my family over the coming days.' He said he was 'encouraged' by support from Liberal lawmakers and others 'who want us to move forward with positive change and a winning economic plan.'
Speculation about Carney's political ambitions has grown as Trudeau's popularity declined amid high inflation, a housing crisis, and voter fatigue. Trudeau's resignation also comes as US president-elect Donald Trump threatens tariffs that could damage Canada's economy. Carney, who holds Canadian, Irish, and British citizenship, has a diverse résumé including roles at Brookfield Asset Management and as UN special envoy for climate action.
The Liberal caucus will meet on Wednesday to set parameters and a timeline for selecting Trudeau's replacement. Party officials hope for a new leader by the end of January, but immigration minister Marc Miller said a 30- to 60-day period should be sufficient. However, questions remain about who will vote, as Trudeau's 2013 win allowed non-members to cast ballots.
The Liberals face a tough electoral landscape, with the opposition Conservatives led by Pierre Poilievre expected to win a majority. Poilievre has dismissed Carney as 'Carbon Tax Carney,' and the Conservatives plan to tie any new Liberal leader to Trudeau's unpopularity. Former Trudeau aide Gerald Butts warned that limiting the race could harm the party, writing that 'competitions create better competitors.'
