The exact time he will become prime minister has not yet been determined. Trudeau said last week that a transition period would be required.
Former central banker Mark Carney wins the liberal leadership race and becomes prime minister after his transition with leaving leader Justin Trudeau is resolved.
Carney won two former cabinet members and a former liberal lawmaker in a campaign that had little drama among candidates as he concentrated his criticism of US President Donald Trump and conservative leader Pierre Poillivre.
Carney received the most support from the liberal cabinet and the Caucus, and outperformed his opponents in fundraising.
The exact time he will become prime minister has not yet been determined. Prime Minister Justin Trudeau said last week that a transition period would be required.
Trudeau announced his intention to resign in early January after Christia Freeland resigned from minister in December after a distant two seconds in the leadership race.
Carney has become a rare, unelected prime minister, and has never run for office before officially launching his campaign, positioning himself as a political “outsider.”
Related Stories
He is also the only prime minister who holds two other citizenships, both citizens of England and Ireland. John Turner had British citizenship in his former Turner, who served briefly in 1984. Kearney said he began the process of waiving other citizenship in late February.
Central bank governor, executive position
The teacher’s son, Kearney, was born at Fort Smith in Northwest Territories and grew up in Edmonton.
He holds a Bachelor of Arts in Economics from Harvard University (1988) and holds Masters (1993) and PhD in the same field at Oxford (1995).
Bank of Canada Governor Mark Kearney is seen here October 15th in Nanaimo, British Columbia. Canadian media/Chad Hipolit
He became a civil servant and began his career in the private sector before becoming governor of the Bank of Canada (BOC) between 2007 and 2013. After leaving BOC in 2013, he served as governor of the Bank of England until 2020.
After leaving that role, he served on many committees, served as an executive role in the private sector, and was deeply involved in the Net-Zero Emissions initiative.
Among these roles are executive or board duties with financial companies in Brookfield’s Asset Management, Stripe, Pimco and Bloomberg charities, the World Economic Forum, and charities such as the United Nations Climate Action and Finance.
Net Zero Advocacy
Kearney is a powerful advocate for moving away from climate policy and hydrocarbons.
The Net Zero Banking Alliance, founded by its subgroup, Carney, has since been unlocked as the largest US banks have been withdrawn and all Canadian banks have withdrawn earlier this year.
Carney commented on the topic when he launched a soft campaign with John Stewart on January 14th on The Daily Show.
Mark Kearney will give a keynote address to launch the 2020 United Nations Climate Change Conference (COP26) Private Finance Agenda on February 27, 2020 at the Guildhall in London, UK. Tolga Akmen/WPA Pool/Getty Images
“As soon as these big banks took office, they bailed out everything,” Stewart said. “They all bailed on all these commitments they made, and you’re somehow holding a carbon tax bag. Is that going to make your running even more difficult?”
Carney continues to be committed to the net-zero emissions view, but as prime minister, he has said he will remove the unpopular consumer carbon tax, replace it with an incentive program, and instead put costs on big businesses.
“But we need to do that in a way that Canadians today are not paying the price,” he told Stewart.
Liberal Advisor
Carney had informally advised Trudeau about the economic response to Covid-19 shortly after the pandemic began in 2020.
A few months later, reports emerged that the Liberal Party was planning to replace then-Finance Minister Freeland with Kearney.
Freeland resigned from the cabinet on December 16th after being informed by Trudeau that she was being shuffled from her position. This led many Caucus members to publicly call on Trudeau’s expulsion as leaders, and ultimately brought the announcement on January 6th.
policy
Carney said he will focus on reducing government spending and only accepting debt if it helps the economy grow. He also says it will cut taxes for the middle class and remove barriers to international trade.
At home, he said he plans to allocate funds to new technology to speed up completion times and build new homes with a focus on “unlocking private risk capital” and cut the deficit.
His plan also focuses on climate change policies.
On a cultural basis, he says he values ”inclusion.”
“Canadians will continue to cherish inclusiveness while America is engaged in the war that has awakened,” he said in the campaign trajectory.
