Mark Carney, a renowned economist and former central banker, has secured a landslide victory to become the new leader of Canada's governing Liberal Party, succeeding Justin Trudeau. This win effectively positions him as the country's next prime minister, amidst economic uncertainty and escalating trade tensions with the United States. “I will work day and night with one purpose, which is to build a stronger Canada for everyone,” Carney said after securing 85.9% of the vote, reported Al-Jazeera. From central banking to politics Born in the Northwest Territories and raised in Alberta, Carney earned degrees from Harvard and Oxford before working at Goldman Sachs. He later became the governor of the Bank of Canada, where he played a key role in stabilizing the economy during the 2008 financial crisis. In 2013, he took over as governor of the Bank of England, helping to mitigate the economic impact of Brexit. Lack of political experience Despite his economic credentials, Carney is new to electoral politics. “He’s someone who’s been behind the scenes, an adviser,” said McGill University political scientist Daniel Béland. His campaign focused on tackling inflation, investing in housing, and managing immigration. Although he once supported carbon pricing, he recently vowed to scrap it in response to public opposition. Facing conservative opposition Carney’s biggest challenge will be taking on Conservative leader Pierre Poilievre in the upcoming federal election. With US President Donald Trump imposing steep tariffs on Canadian products, economic stability is a key concern for voters. Polls show Carney has a slight edge over Poilievre in handling Canada-US relations. “He’s an elite technocrat, while Poilievre likes slogans,” Béland noted. As Canada prepares for an election, Carney must prove he can translate his economic expertise into political success. (with inputs from agencies)
