The news is out! Canada’s next leader has been selected. Mark Carney is the name and he is elected as the new head of the governing Liberal Party, replacing Justin Trudeau amid historic tensions and fears of a trade war with the United States. Carney is selected in the hopes of uplifting Canada’s current economic state and maintain the political momentum in these dark times for the country.
But just who is Mark Carney? What policies does he plan to pursue, and will he be able to boost the Liberals’ fortunes in the upcoming federal election against a strong Conservative Party?
Carney’s Background
This next leader is kind of a newcomer in politics. For an introduction, he was born in Fort Smith, the Northwest Territories, and raised in Edmonton, Alberta.
As for his education, he has a bachelor’s degree in economics from Harvard University and then later on pursued a master’s degree and doctorate in economics from Oxford University.
In his professional career, he spent 13 years working for Goldman Sachs, traveling between the firm’s offices in London, Tokyo, New York and Toronto. Then, by 2008, he was serving as governor of Canada’s central bank and stepped into the job during the Great Recession.
Read More: Mark Carney Wins Liberal Leadership, Becomes Canada’s PM
Carney did so well that he was later on selected by the Bank of England to be its governor — the first non-British person to hold the position. It is this banking experience that has made Carney an ideal candidate against the economic war with the USA’s imposed tariffs.
Climate Change Advocate
Carney not only has an economic and finance-based background but also has been an advocate for prominent global issues like climate change. This started after Carney became the UN Special Envoy for Climate Action and Finance in 2019.
Carney has proposed shifting the financial burden of the carbon tax from consumers to big corporations and has said that under his leadership, the tax Canadian consumers and small businesses pay on fuel would be replaced with incentives to reduce carbon emissions.
Lack of Political Background
Despite his economic expertise, he has been criticised for his lack of experience in electoral politics. However, the liberals didn’t select him for no reason. He has been in the background of parliament procedures. He also advised Trudeau on Canada’s economic recovery from Covid-19.
However, the banker-turned-politician did not make his official entrance until Trudeau announced his resignation in January. It is debatable whether or not this will be enough as all of his competitors are sitting politicians. Carney’s situation is very unusual, if he becomes president, he will do it without holding a seat in Parliament.
Promise Against the Trump Tariffs
The main reason Carney is being considered good enough is because, currently, Canada is less concerned about domestic issues and is more focused on economic certainty and the Canada-US relationship. Some experts believe Carney’s background could make him uniquely suited. “He’s very competent in economics, so with these tariffs, this economic war, a lot of people are supporting him,” said Charles-Etienne Beaudy, political science professor at the University of Ottawa and author of ‘Radio Trump: How he won the first time.’
Carney has been an outspoken proponent of dollar-for-dollar retaliatory tariffs post the tariff announcement. His first remarks after the vote, were regarding the Trump administration’s plans. “Trump is attacking Canadian families, workers and businesses, and we cannot let him succeed and we won’t,” he said.
How Different is He from Trudeau?
His stances seem to be very similar to that of Trudeau, and given that he was also involved in handling decision making while the former president was in charge, he must have learned a thing or two.
The lack of political experience will be the only factor that can differentiate him, but we all start somewhere!
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