Former Bank of Canada and Bank of England governor Mark Carney speaks with people as he announces that he is running to replace Prime Minister Justin Trudeau as leader of the ruling Liberal Party, in Edmonton, on Jan. 16.Amber Bracken/Reuters
Mark Carney made his bid to become the country’s next prime minister official on Thursday, launching his candidacy for Liberal leader with the pitch that he is an outsider who will differentiate himself from Justin Trudeau by focusing on the economy.
The 59-year-old financier and former central banker has spent the past two decades in the top echelons of the political and business world. On Thursday, he introduced himself to a crowd of supporters in Edmonton as “Mark,” who was born in Fort Smith, NWT, but raised in the Alberta capital.
He made the jump into partisan politics more than a decade after the Liberals first tried to recruit him and in the wake of several failed attempts by the Prime Minister to have Mr. Carney join the Trudeau government – rather than replace it.
In his speech, Mr. Carney outlined his case for how he will be different from Mr. Trudeau and why he believes Conservative Leader Pierre Poilievre isn’t the answer for the country’s economic struggles.
Mr. Carney said Mr. Trudeau and his team “let their attention wander from the economy too often” and pledged that he won’t do the same. He argued for less federal spending but more investment and cautioned against “far left” ideas to “redistribute what we don’t have.”
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“I’m not the usual suspect when it comes to politics, but this is no time for politics as usual,” he said. “It’s not the time for lifelong politicians such as Pierre Poilievre – politicians with bad ideas, naive and dangerous ideas.”
“If you choose me as your leader, we will offer Canadians a clear choice in the next election: experienced calm versus chaos.”
Mr. Carney is a rookie in running for office but has deep roots in the political world, acting as an adviser to Mr. Trudeau as well as the British prime minister and French president.
The governing Liberals will elect their next leader on March 9. That person will also replace Mr. Trudeau as prime minister, though will likely have a short runway before the next election. The Liberals are heading into that campaign beset by weak fundraising and a 27-point polling gap with the Conservatives.
The leadership race is expected to feature Mr. Carney and former deputy prime minister and finance minister Chrystia Freeland as the front-runners, with Government House Leader Karina Gould also making a play for the top job.
Ms. Freeland will soft-launch her campaign in Montreal on Friday and Ms. Gould will make hers official in Burlington, Ont., by Sunday, according to sources with both teams.
The Globe is not identifying the sources who were not permitted to disclose the plans.
Also organizing campaigns are MPs Jaime Battiste and Chandra Arya and former MP Frank Baylis.
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Mr. Carney launched his campaign in a small room packed with supporters and several Liberal MPs. The kickoff lacked the excitement of a big political rally and the crowd was largely quiet throughout the speech, which only had a few applause lines. At one point, a member of Mr. Carney’s team started a brief chant of “Mark! Mark! Mark!”
He released no policy planks and didn’t say which riding he plans to run in as an MP. Mr. Carney told his supporters that if they remember one thing from his campaign launch it should be his complete focus “on getting our economy back on track.”
“The system, it’s not working as it should, and it’s not working as it could. People are anxious. No wonder. Too many are falling behind. Too many young people can’t afford a home, too many people can’t find a doctor,” Mr. Carney told the crowd.
Adding to those challenges, he said, are major technological and economic shifts and the threats posed by incoming president Donald Trump. Mr. Carney said the new U.S. administration will be led by a man “who threatens economic force on his closest, most steadfast allies.”
“I’m here to earn your trust to lead that fight. I’m back home in Edmonton, to declare my candidacy for leader of the Liberal Party and prime minister of Canada.”
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The alum of both Harvard and Oxford was governor of the Bank of Canada from 2008 to 2013 and held the same post at the Bank of England from 2013 to 2020.
On Thursday, he told reporters he had resigned all of his private and public roles effective immediately, including his job as chair of Brookfield Asset Management, and positions on the boards of Bloomberg LP and the Stripe financial services firm.
Billionaire entrepreneur Mike Bloomberg endorsed Mr. Carney on social media, calling his former colleague “a leader who pairs vision with action and has a strong grasp of the economic challenges families and communities face today.”
During his press conference, Mr. Carney declined to disclose his compensation at Brookfield, which has never been released despite him being a senior executive. In his press conference, he also declined to clearly explain his role in Ms. Freeland’s Dec. 16 resignation, which spelled the beginning of the end of Mr. Trudeau’s tenure.
The Prime Minister had told Ms. Freeland she would be replaced with Mr. Carney in the finance post. Instead the senior role went to Dominic LeBlanc. Mr. Carney only said Thursday that he was recruited to be part of a team and “in the end, the team didn’t come together.”
The Opposition Conservatives – who have attacked Mr. Carney for months in the House of Commons and on social media – met his official launch with a paid digital ad campaign. It focuses on Mr. Carney’s past commitment to a consumer price on carbon and ends with the tag line: “Carbon tax Carney. He’s just like Justin.”
Mr. Carney declined to say Thursday what he will do with the consumer carbon price but three Liberal MPs told The Globe that based on their discussions with the leadership candidates they expect that the controversial policy will be scrapped no matter who wins the top job.
The Globe is not identifying the MPs who were not authorized to disclose the leadership aspirants’ plans.
The former central banker has already secured public endorsements from at least 13 Liberal MPs. Ms. Freeland meantime has the support of at least 10 MPs and at least two have backed Ms. Gould.
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Toronto MP James Maloney described Ms. Freeland as a proven leader who has already shown her skill against Mr. Trump during his first presidency.
“He views her as a powerful person and a real adversary that he takes very seriously,” Mr. Maloney said about the incoming president.
Ontario MP Lisa Hepfner, who has endorsed Ms. Gould, described her as a tough, kind and calm politician who leaves Mr. Poilievre on his back heels in the House of Commons.
“All the candidates are smart and capable. Karina is authentic and relatable. Everyone who knows her loves her,” Ms. Hepfner said. “I can’t wait for the rest of Canada to get to know her better.”
With a report from Stephanie Chambers