Former Bank of Canada Governor Mark Carney Intensifies Outreach to Liberal MPs as Leadership Race Looms

Amid growing calls for Prime Minister Justin Trudeau to step aside, Mark Carney, the former governor of the Bank of Canada and the Bank of England, is reportedly positioning himself for a possible Liberal Party leadership race. According to a report by CTV News, Carney has been actively engaging with Liberal MPs and organizers as speculation intensifies around Trudeau’s political future.

The prospect of Carney’s leadership bid was first highlighted by the Toronto Star, sparking debate among political circles. Calls for Trudeau’s resignation have surged, particularly following the abrupt resignation of Deputy Prime Minister and Finance Minister Chrystia Freeland. Internal party tensions have escalated, leading to a planned national caucus meeting on Wednesday, where Trudeau will face MPs for the first time since announcing his intention to reflect on his leadership over the holidays.

Sources indicate that Carney has been making numerous calls to Liberal MPs and key organizers since Boxing Day, solidifying his potential as a successor. His extensive economic experience, including his tenure as a central banker, is seen as a strategic advantage, particularly in navigating Canada-U.S. relations and addressing domestic economic concerns.

Carney’s credentials are viewed as a potential asset in addressing economic challenges that resonate with Canadians, especially as affordability remains a key issue. His expertise could prove vital in tariff negotiations with U.S. President-elect Donald Trump and in countering Conservative Leader Pierre Poilievre’s growing appeal on affordability issues.

Trudeau’s efforts to involve Carney in federal politics have been evident for months. Last summer, the Prime Minister confirmed discussions with Carney about joining politics. By September, Carney was appointed as a special economic advisor to the Liberal Party, further cementing his ties to the government.

Freeland’s resignation has added fuel to the leadership crisis. Sources reveal that in December, just before delivering the fall economic statement, Trudeau informed Freeland via a Zoom call that she would be reassigned to focus on Canada-U.S. relations while retaining her role as deputy prime minister. This decision reportedly paved the way for Carney to assume the finance portfolio, a move that ultimately did not materialize.

The resignation has intensified scrutiny of Trudeau’s leadership, with opposition leaders seizing the moment. Conservative Leader Pierre Poilievre has called for a non-confidence vote as Parliament reconvenes, while NDP Leader Jagmeet Singh has committed to introducing such a motion, accusing the Liberals of failing Canadians.

Public support for the Liberal Party has waned significantly, with a recent Nanos Research poll indicating that the Conservatives hold a commanding 47% support compared to the Liberals’ 21%. This 26-point gap underscores growing dissatisfaction with the Trudeau government and amplifies calls for change.

The Conservatives have not spared Carney from criticism, branding him as “Carbon Tax Carney” to associate him with the Liberals’ controversial climate policies. Despite this, Carney’s appeal among Liberals remains strong, with many viewing him as the party’s best chance to counter Poilievre’s momentum and reinvigorate voter confidence.

As the political landscape evolves, Wednesday’s caucus meeting will be pivotal in determining Trudeau’s future and the trajectory of the Liberal Party. Whether Carney officially steps into the leadership race remains to be seen, but his presence has already reshaped the narrative around the party’s next chapter.