Carney is “considering” entering the race to replace Canada’s Trudeau

Former Bank of Canada and Bank of England governor Mark Carney says he is “considering” entering the race to replace Justin Trudeau as leader of the Liberal Party of Canada.

On Monday, Trudeau said he would step down after nine years as Canada’s prime minister — after growing pressure from his own party and poor public opinion polls.

Mr. Kearney, 59, is one of several names in the running to replace Trudeau, along with his former deputy Chrystia Freeland and Transportation Minister Anita Anand.

Trudeau says he will remain in his post until a new leader is chosen. Meanwhile, Canada’s parliament has been suspended – or suspended – until March 24.

It is likely that the Liberals will try to appoint a new leader before the end of the grace period – although the timing and procedure remain unclear. Trudeau promised a “robust, nationwide competitive process.”

Mr. Cairney, who heads an asset management firm and served as an adviser to Mr. Trudeau, told Britain’s Financial Times newspaper: “I will be carefully reviewing this decision with my family in the coming days.”

He has long been considered a contender for higher office, although he has never held public office despite his economic background.

During his career as a central bank governor – at the Bank of Canada from 2007 to 2013 and then at the Bank of England from 2013 to 2020 – Mr. Carney had an impact on the response of two major economies to the global financial crisis.

He also led efforts to support the UK economy through its exit from the European Union and the Covid-19 outbreak.

Whoever succeeds Trudeau in Canada could face an immediate test. The country’s next federal election is due by October, but it is thought likely that the vote will take place earlier. The opposition Conservative Party, led by Pierre Poilievre, currently enjoys a double-digit lead in opinion polls.

Trudeau himself recently acknowledged that he had long tried to recruit Mr. Carney to his team, most recently as finance minister. “He would be a great addition at a time when Canadians need good people to energize their politics,” he said last year.

Mr Carney will also bring environmental expertise to bear through his role as the United Nations’ special envoy for climate action, having recently called the net zero goal “the greatest commercial opportunity of our time”.

He is a proponent of some Liberal policies that have been unpopular in the country’s conservative circles, such as a federal carbon tax, the party’s signature climate policy, which critics say is a financial burden on Canadians.

He was also critical of Pouillyeur, saying the Conservative leader’s vision for the country’s future was “without a plan” and “just slogans”.

Other candidates seen as potential replacements for Trudeau include his former deputy Chrystia Freeland, who resigned from cabinet after falling out with the prime minister’s office in December, and Transportation Minister Anita Anand, a lawyer who in 2019.