Basics
Mr. Prime Minister: Who is Mark Carney?
Governance Trade
Published on March 24, 2025
Explore This BasicIn the wake of Justin Trudeau’s resignation as Prime Minister of Canada, few anticipated the swift rise to power of Mark Carney, a former central banker with no prior political experience. Known internationally for his leadership through the 2008 global financial crisis as governor of the Bank of Canada and later as the first non-British governor of the Bank of England, Carney’s background in navigating crises, including the economic fallout from Brexit and the COVID-19 pandemic, has shaped his image as a capable, steady hand. His rapid political ascent has sparked renewed hope for the Liberal Party, which, just months ago, seemed poised for defeat. With tensions rising between Canada and the United States, particularly over President Trump’s tariffs and rhetoric, Carney’s leadership is now tested internationally. Canadian voters are preparing to judge his performance in the upcoming federal election on April 28th.
Before Justin Trudeau announced his resignation as Prime Minister of Canada, few casual observers of politics knew of Mark Carney. The race to become the leader of the Canadian Liberal Party came down to Carney and Chrystia Freeland, Trudeau’s former Deputy Minister. When Trudeau resigned, many observers thought Freeland would be his successor. However, Mark Carney won the vast majority of votes in the Liberal leadership race. 86% of the vote went his way, while Chrystia Freeland received 8%. But who is Canada’s new Prime Minister, rising to international celebrity in a matter of weeks?
Links to Other Resources
- 338Canada – 338Canada Project
- BBC – How Britain’s former top banker became Canada’s prime minister
- The Guardian – Mark Carney, the ‘boring guy’ whose economic acumen could help Canada tackle Trump
- Ipsos – Liberals Take Lead for First Time Since 2021
- Reuters – Mark Carney wins race to replace Trudeau as Canada’s prime minister