Mark Carney, the former head of both the Bank of Canada and the Bank of England, has officially launched his bid to become the next leader of Canada’s ruling Liberal Party and, potentially, the country’s next Prime Minister, Al Jazeera reports.
Carney announced his candidacy at a rally in Edmonton, Alberta, on Thursday.
“I’m back home in Edmonton to declare my candidacy for leader of the Liberal Party and prime minister of Canada,” he said.
The 59-year-old economist is considered a frontrunner to replace Justin Trudeau, who announced his resignation earlier this month amid declining public support. Trudeau will remain in office until the party selects his successor in early March. The Liberals hope a new leader will revitalize their party’s image ahead of a mandatory election before the end of October.
Recent polls show the opposition Conservative Party holding a significant lead, more than 20 percentage points ahead of the Liberals. This comes as many Canadians grapple with an affordability crisis, fueling discontent with the current government. Adding to the pressure, the Liberal government is also facing the threat of potential 25% tariffs on Canadian goods from incoming US President Donald Trump.
Carney has sought to position himself as a political outsider, stating that his leadership bid comes at a critical juncture for Canada. He also took aim at Conservative Party leader Pierre Poilievre, who is widely seen as a likely contender for prime minister after the next election. Poilievre, a right-wing populist, has been a vocal critic of the Trudeau government’s carbon-pricing policy, branding Carney “Carbon Tax Carney” due to his perceived support of the policy. Poilievre has pledged to scrap the carbon tax if elected.
In response to Carney’s announcement, Poilievre reiterated these attacks, linking the former central banker to the unpopular Trudeau government, as well as the left-leaning New Democratic Party (NDP). The Conservatives also dismissed the “outsider” narrative, noting Carney’s previous role as an economic advisor to the Trudeau government.
The Liberal Party will choose its new leader on March 9th, just weeks before Parliament reconvenes on March 24th. However, the new leader’s tenure as prime minister might be short-lived, as opposition parties, including the Conservatives, have indicated they plan to introduce a no-confidence motion against the Liberal government, which could trigger a snap election.
While other candidates, including Liberal MP Chandra Arya and businessman Frank Baylis, have entered the leadership race, the contest is widely expected to be between Carney and former Canadian Finance Minister Chrystia Freeland. Freeland, a close ally of Trudeau who resigned from his cabinet in late December over disagreements on how to handle the looming Trump tariff threat, has yet to formally announce her candidacy.
