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Mark Carney is considering a bid to replace Justin Trudeau in the race to become Canada’s Prime Minister


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Mark Carney, the former governor of the Bank of England, has confirmed that he thinks he will replace Justin Trudeau as the prime minister of Canada.

Trudeau announced Monday that he will step down after nearly a decade in power, prompting the Liberal party to seek a new leader ahead of the next general election.

Carney, 59, became the first non-British person to lead the Bank of England. He previously led the Bank of Canada from 2008 to 2013, earning a reputation for his handling of global financial crises. Since leaving the Bank of England in 2020, Carney has served as chairman at Brookfield Asset Management and as the United Nations’ special envoy on climate action and finance.

In a statement quoted by Bloomberg, where he sits as chairman of the board, Carney said he was “encouraged” by the support of Liberal and Canadian lawmakers who “want us to move forward with positive change and a successful economic system”. He pledged to consult with family members before making a final decision.

Speculation about Carney’s potential leadership ambitions has been fueled by Trudeau’s declining poll numbers in the face of inflation, record food prices and widespread voter fatigue. The Liberal government’s carbon pricing agenda is also being criticized by the Conservative Party, whose leader Pierre Poilievre has called Carney “Carbon Tax Carney”.

Voters are currently giving the Conservatives a strong chance of forming a majority government. A recent poll by the Angus Reid Institute placed Carney second behind former deputy prime minister Chrystia Freeland on a list of potential Liberal leaders.

Trudeau’s resignation comes amid concerns about Canada’s economic situation and the possibility of US tariffs under incoming president Donald Trump, which could hurt Canadian trade. Elections must come before October, although the exact date remains unconfirmed.

Carney’s diverse background — he holds Canadian, Irish, and, as of 2018, British citizenship — adds an international element to his profile. His economic pedigree and advocacy on climate change may appeal to Liberals looking for a fresh perspective for a party facing a tough electoral challenge.


Paul Jones

Harvard alumni and former New York Times reporter. Editor of Business News for over 15 years, the UK’s largest business magazine. I am also head of Capital Business Media’s motoring division working for clients such as Red Bull Racing, Honda, Aston Martin and Infiniti.





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