Mark Carney to become Canada’s next prime minister; who is he?

Former central banker Mark Carney will become Canada’s next prime minister after the governing Liberal Party elected him its leader on Sunday (March 9) as the country deals with US President Donald Trump’s trade war and annexation threat, and a federal election looms.

Carney (59) replaces Justin Trudeau, who announced his resignation in January but remains prime minister until his successor is sworn in.

Personal life

Carney is 59. He was born in Fort Smith, Northwest Territories, on March 16, 1965, and raised in Edmonton, Alberta. His wife Diana is British-born and he has four daughters.

Carney has Canadian, UK and Irish citizenship. He has moved to eventually have solely Canadian citizenship, which is not required by law but seen as politically wise.

Also read: Trump delays some tariffs on Mexico and Canada amid fears over trade war

Crisis management

Carney ran the Bank of Canada from 2008 to 2013 and the Bank of England from 2013 to 2020. After helping Canada manage the worst impacts of the 2008 financial crisis, he was recruited to become the first non-Brit to run the Bank of England since it was founded in 1694.

Carney navigated crises when he was the head of the Bank of Canada and when, in 2013, he became the first non-citizen to run the Bank of England since it was founded in 1694. His appointment won bipartisan praise in the UK after Canada recovered from the 2008 financial crisis faster than many other countries.

Political greenhorn

In 2020, he began serving as the United Nations’ special envoy for climate action and finance.

Carney is also a former Goldman Sachs executive. He worked for 13 years in London, Tokyo, New York and Toronto, before being appointed deputy governor of the Bank of Canada in 2003. He has no experience in politics.

Also read: Trudeau slams Trump for starting a trade war with Canada while appeasing Putin

Chances boosted

The opposition Conservatives hoped to make the election about Trudeau, whose popularity declined as food and housing prices rose and immigration surged.

However, Carney’s chances of remaining prime minister for more than a few weeks seem to be improving. In a mid-January poll by Nanos, the Liberals trailed the opposition Conservatives and their leader Pierre Poilievre 47 per cent to 20 per cent. This week the latest poll has Liberals at 34 per cent and the Conservatives at 37 per cent.

Canadian nationalism

Trump’s trade war and his talk of making Canada the 51st US state have infuriated Canadians, who are booing the American anthem at NHL and NBA games. Some are cancelling trips south of the border, and many are avoiding buying American goods when they can.

The surge in Canadian nationalism has bolstered the Liberal Party’s chances in a parliamentary election expected within days or weeks.

(With agency inputs)