Canada Election 2025: Who is Mark Carney, former banker and future PM frontrunner? Details here

Mark Carney, the former Bank of England Governor, is all set to become Canada's Prime Minister after he was sworn in last month. Carney, however, will form a minority government. The Liberals needed to bag 172 out of the total 343 seats in the House of Commons for a majority but they were leading or elected in 156 districts, followed by Conservatives at 145, as per a CTV News report.

His tenure follows Justin Trudeau's, and his leadership style, deeply rooted in crisis management and economic acumen, is poised to address both domestic and international challenges.

About Mark Carney

Carney's economic credentials are well-documented. He previously served as Governor of the Bank of Canada during the 2008 financial crisis, a period where his leadership helped the country avoid the most severe outcomes.

Known for his bold monetary policies, Carney maintained low interest rates to support the economy. His tenure as Governor of the Bank of England was marked by modernisation efforts, including reducing the frequency of interest rate meetings and implementing a 'forward guidance' policy to stabilise markets.

The current political landscape sees Carney at the helm during heightened US-Canada tensions. President Donald Trump's administration has stirred unease with suggestions of imposing tariffs and even annexing Canada.

Carney's campaign emphasised economic stability and safeguarding Canadian sovereignty. In a recent debate, he asserted, "I know how to manage crises. In a situation like this, you need experience in terms of crisis management, you need negotiating skills."

Despite his expertise in economics, Carney faces scrutiny regarding his previous association with Brookfield Asset Management. Critics have raised concerns about potential conflicts of interest, although Carney has assured compliance with regulations by placing his assets in a blind trust.

Apart from his economic focus, Carney is a known advocate for environmental sustainability. As a UN special envoy for climate change and founder of the Glasgow Financial Alliance for Net Zero, he has championed efforts to combat climate change. Domestically, he has proposed policies to cap immigration targets, aiming to mitigate pressures on housing and healthcare systems.

Carney's rise to leadership, despite having no prior elected office, distinguishes him from former leaders.