Mark Carney Signals Interest in Liberal Leadership

Mark Carney, who has served as the governor of the Bank of Canada and the Bank of England, speaks at the Sustainable Finance conference, on Nov. 28, 2024. The Canadian Press/Adrian Wyld

Former Bank of Canada Governor Mark Carney is contemplating a bid for the leadership of the Liberals as party brass begin their search for Prime Minister Justin Trudeau’s replacement.

Carney issued a statement earlier this week saying he is considering a run.

“I’ll be considering this decision closely with my family over the coming few days,” Carney said, adding that he is “encouraged and honored by the support that I’ve already been hearing.”

Carney said Liberal lawmakers and supporters have already told him they “want us to move forward with positive change and a winning economic plan,” noting that “that’s what it will take to defeat Pierre Poilievre, to get Canada back on track, and to build the strongest economy that works for all Canadians.”

News of Carney’s interest in the Liberal leadership has been circulating for years and he has long been regarded as a potential candidate.

He joined the Liberal team in September to serve as adviser to the prime minister on economic growth and is also the United Nations’ special envoy on climate action and finance.

Carney, who is currently the chairman of Brookfield Asset Management, is also the former governor of the Bank of England.

Former Liberal MP Frank Baylis is the only person to publicly declare his intention to seek the Liberal leadership since Trudeau announced his resignation on Jan. 6. Trudeau has said he will stay on as prime minister and Liberal leader until a replacement is chosen.

Trudeau also announced that Gov. Gen. Mary Simon has prorogued Parliament at his request, suspending all House of Commons proceedings until March 24.

That gives the Liberal Party just 10 weeks to put another leader in place. The government is likely to fall at the earliest confidence vote if all three opposition parties—the Conservative, the NDP, and the Bloc Québécois—follow through on their previous comments that they intend to vote non-confidence in the Liberal government.

Possible Candidates

No sitting MP has officially announced their intention to seek the leadership but speculation is rife in Ottawa about who might compete for the job.

Among those mentioned as potential candidates are Foreign Affairs Minister Mélanie Joly and former Finance Minister Chrystia Freeland, whose abrupt resignation just before the Christmas recess sparked a surge of calls for Trudeau to resign.

Transport Minister Anita Anand, Industry Minister François-Philippe Champagne, House Leader Karina Gould, and Energy Minister Jonathan Wilkinson are also thought to be considering a potential candidacy.

Trudeau was asked during his resignation announcement if current cabinet ministers could vie for the Liberal leadership while continuing their roles on the front bench, but he did not give a definitive answer.

While there are no rules in place to prevent cabinet ministers from pursuing the leadership role, they are typically expected to resign from their positions so they can concentrate on their campaigns.

Another high-profile candidate who could become a contender is former B.C. Premier Christy Clark. Clark served as premier from 2011 to 2017.

Clark has publicly expressed interest in the top job in the past. She told the media last October she would be interested in the job should the opportunity arise.

Liberal Party President Sachit Mehra said he would get the ball rolling this week for the leadership race to begin.

The Canadian Press contributed to this report.