Former Bank of Canada Governor Mark Carney to join Liberal Party as special adviser
Former Bank of Canada Governor Mark Carney will be joining the Liberal Party as a special adviser.
In an official press release on Monday, the party says Carney will serve as the chair of a leader’s task force on economic growth.
“As chair of the leader’s task force on economic growth, Mark’s unique ideas and perspectives will play a vital role in shaping the next steps in our plan to continue to grow our economy and strengthen the middle class, and to urgently seize new opportunities for Canadian jobs and prosperity in a fast-changing world,” Prime Minister Justin Trudeau said in a statement.
This summer, Trudeau confirmed he held talks with Carney about the possibility of joining the Liberal government.
"I have been talking with Mark Carney for years now about getting him to join federal politics," Trudeau told reporters in July. "He would be an outstanding addition at a time when Canadians need good people to step up in politics."
Carney is scheduled to attend the Liberal Party caucus retreat in Nanaimo, B.C. on Tuesday to speak to MPs about the economy. Some members of the party say they are looking forward to meeting with him.
"I think it's going to be very helpful to have a perspective that's from outside of politics, that is someone that is esteemed in the space of economic leadership," Indigenous Services minister Patty Hajdu said Monday following the announcement.
Speaking to reporters in Nanaimo on Monday, Conservative House Leader Andrew Scheer responded to the news saying the appointment is "just a smoke and mirrors gimmick."
"At the end of the day, Mark 'carbon tax' Carney loves the same policies that Justin Trudeau has imposed on Canadians,” Scheer said. “They're basically the same people. Out of touch elites that believe that they know better than hardworking Canadians.”
The former central bank governor — who now works as the head of transition investing for Brookfield Asset Management, and as a United Nations special envoy on climate action and finance — has fielded rumours for years that he's after Trudeau's job.
He's thrown cold water on the speculation several times, however, insisting he supports the prime minister. He told CTV's Question Period host Vassy Kapelos in an interview in January that Trudeau will still be the Liberal leader going into the next federal election, currently slated for October 2025.
Kapelos also asked whether his ideas about the kinds of policies the federal government could pursue means he may be interested in a cabinet position in the Trudeau government.
"Well, look, you don't just hand out positions as cabinet ministers, but you do out hand out gratuitous advice, which is what I've been doing," he said at the time. "And look, I care. This is my country, I care deeply about it."
A former executive at Goldman Sachs, Carney was appointed governor of the Bank of Canada in 2008, amid the global financial crisis.
He remains the second-youngest Bank of Canada governor in history.
By that time, he had also done a brief stint as the central bank's deputy governor and with the federal government's finance department.
By 2009, while lauding Canada for how well it weathered the prior year's financial crisis compared to other countries, Carney pushed for others to follow suit, and called for widespread reforms to the world's financial system.
Carney would later be largely credited for helping steer Canada through the global crisis.
During his tenure as Canada's central banker, Carney also took on several high-profile appointments, including chair of the Committee on the Global Financial System, and head of the Financial Stability Board for the G20.
He was also named one of the world's 25 most influential leaders by Time magazine in 2010 — the only central banker on the list otherwise occupied by figures such as former U.S. President Barack Obama — and became well-known in central banking.
Carney's five-year term as governor of the Bank of Canada ended on June 1, 2013, and a month later, he took on the same role at the Bank of England, becoming the first foreigner to be named governor of that institution in its more than three-century-long history.
Carney — an officer of the Order of Canada since 2014 — later agreed to stay on at the helm of the Bank of England for two extra years, to help ease the Brexit transition.
Around the same time, in August 2020, Trudeau tapped Carney to serve as an "informal adviser" on the government's pandemic recovery plan.
April 2021 marked Carney's official coming out as a card-carrying Liberal, delivering a keynote speech praising many of the party's policies, and ratcheting up the speculation he was considering getting his name on a ballot.
Following the speech, Nanos Research chair Nik Nanos told CTV News Trend Line that Carney would add "a lot of credibility on the fiscal front to the Liberals," while also being "a significant target for the Conservatives."
Carney earned his bachelor's in economics from Harvard University, before pursuing his master's and doctorate from Oxford University, also in economics.
With files from CTV News' Rachel Aiello.
IN DEPTH
Jagmeet Singh pulls NDP out of deal with Trudeau Liberals, takes aim at Poilievre Conservatives
NDP Leader Jagmeet Singh has pulled his party out of the supply-and-confidence agreement that had been helping keep Prime Minister Justin Trudeau's minority Liberals in power.
'Not the result we wanted': Trudeau responds after surprise Conservative byelection win in Liberal stronghold
Conservative candidate Don Stewart winning the closely-watched Toronto-St. Paul's federal byelection, and delivering a stunning upset to Justin Trudeau's candidate Leslie Church in the long-time Liberal riding, has sent political shockwaves through both parties.
'We will go with the majority': Liberals slammed by opposition over proposal to delay next election
The federal Liberal government learned Friday it might have to retreat on a proposal within its electoral reform legislation to delay the next vote by one week, after all opposition parties came out to say they can't support it.
Budget 2024 prioritizes housing while taxing highest earners, deficit projected at $39.8B
In an effort to level the playing field for young people, in the 2024 federal budget, the government is targeting Canada's highest earners with new taxes in order to help offset billions in new spending to enhance the country's housing supply and social supports.
'One of the greatest': Former prime minister Brian Mulroney commemorated at state funeral
Prominent Canadians, political leaders, and family members remembered former prime minister and Progressive Conservative titan Brian Mulroney as an ambitious and compassionate nation-builder at his state funeral on Saturday.
Opinion
opinion Don Martin: Gusher of Liberal spending won't put out the fire in this dumpster
A Hail Mary rehash of the greatest hits from the Trudeau government’s three-week travelling pony-show, the 2024 federal budget takes aim at reversing the party’s popularity plunge in the under-40 set, writes political columnist Don Martin. But will it work before the next election?
opinion Don Martin: The doctor Trudeau dumped has a prescription for better health care
Political columnist Don Martin sat down with former federal health minister Jane Philpott, who's on a crusade to help fix Canada's broken health care system, and who declined to take any shots at the prime minister who dumped her from caucus.
opinion Don Martin: Trudeau's seeking shelter from the housing storm he helped create
While Justin Trudeau's recent housing announcements are generally drawing praise from experts, political columnist Don Martin argues there shouldn’t be any standing ovations for a prime minister who helped caused the problem in the first place.
opinion Don Martin: Poilievre has the field to himself as he races across the country to big crowds
It came to pass on Thursday evening that the confidentially predictable failure of the Official Opposition non-confidence motion went down with 204 Liberal, BQ and NDP nays to 116 Conservative yeas. But forcing Canada into a federal election campaign was never the point.
opinion Don Martin: How a beer break may have doomed the carbon tax hike
When the Liberal government chopped a planned beer excise tax hike to two per cent from 4.5 per cent and froze future increases until after the next election, says political columnist Don Martin, it almost guaranteed a similar carbon tax move in the offing.
CTVNews.ca Top Stories
Most Canadians support expansion of Old Age Security benefits: Nanos survey
Most Canadians support boosting Old Age Security (OAS) benefits by 10 per cent for seniors aged 65 to 74, according to a new Nanos Research poll conducted for CTV News.
Manitoba man acquitted 50 years after murder conviction
A Manitoba man convicted of murder 50 years ago has been acquitted. Clarence Woodhouse was found guilty in 1974 of fatally beating and stabbing a restaurant worker in downtown Winnipeg.
Health official confirms death of Ontario child following rabies diagnosis
A health official has confirmed a child in Ontario has died after they came in contact with a rabid bat.
Breast cancer patient says she had to lie to get a mammogram in Ontario
When an Ontario doctor refused to sign off on a mammogram for 38-year-old Sidra Lone, the mother of four says she was left with no choice but to lie.
American expat votes in Canada could 'change everything': election expert
With the U.S. election widely predicted to be a close race, some believe American voters in Canada and overseas will be crucial in helping elect the new president about a month from now.
Ontario family devastated after losing thousands to online flight ticket scam
An Ontario family was planning a religious trip to Saudi Arabia that included 10 people, but when they were checking in for their flights, the family discovered some of their tickets were fake.
Toronto police officer convicted of stealing from dead people sentenced to 7 years in prison
A Toronto police officer convicted of stealing from deceased individuals he was supposed to be investigating has been sentenced to seven years in prison.
Grandparents found hugging each other after fallen tree killed them in their South Carolina home
As Hurricane Helene roared outside, the wind howling and branches snapping, John Savage went to his grandparents' bedroom to make sure they were OK.
Canadian figure skater suspended at least 6 years for 'sexual maltreatment'
Canadian figure skater Nikolaj Sorensen has been suspended for at least six years for 'sexual maltreatment,' the Office of the Sport Integrity Commissioner announced Wednesday.
Local Spotlight
Unknown Canadian soldier from First World War identified as Manitoba man
The grave of a previously unknown Canadian soldier has been identified as a man from Hayfield, Man. who fought in the First World War.
Canada's October temperatures set to teeter-totter due to record-breaking U.S. heat
Moving into the second week of October, the eastern half of Canada can expect some brisker fall air to break down from the north
New Westminster, B.C., aquatic facility named alongside Paris Olympic venue as world's most beautiful
What does New Westminster's təməsew̓txʷ Aquatic and Community Centre have in common with a historic 68,000-seat stadium in Beijing, an NFL stadium and the aquatics venue for the Paris Olympics? They've all been named among the world's most beautiful sports venues for 2024.
'Thank you Kaye San': Last surviving member of Vancouver Asahi baseball team dies at 102
The last living member of the legendary Vancouver Asahi baseball team, Kaye Kaminishi, died on Saturday, Sept. 28, surrounded by family. He was 102 years old.
'Like going to a buffet with no one else in line': Housing sales stall in Metro Vancouver, Fraser Valley
New data from Greater Vancouver and the Fraser Valley shows a surge in supply and drop in demand in the region's historically hot real estate market.
'Loving life and looking forward': Olympic medalist Alysha Newman ready to jump to new heights
On Saturday night at her parents’ home in Delaware, Ont. the Olympic bronze medallist in pole vault welcomed everyone who played a role in getting her to the podium in Paris.
After decades-long search, northern Ontario man finds vintage vehicle in Larder Lake
A tale about a taxicab hauling gold and sinking through the ice on Larder Lake, Ont., in December 1937 has captivated a man from that town for decades.
Breathtaking encounter with humpback whales captured by B.C. filmmakers
When a group of B.C. filmmakers set out on a small fishing boat near Powell River last week, they hoped to capture some video for a documentary on humpback whales. What happened next blew their minds.
'It's a big pizza': Edmonton pizzeria selling pie that can feed up to 60 people
A pizza chain in Edmonton claims to have the world's largest deliverable pizza.