Canada: Ex-Deputy PM Freeland, former Central banker Carney join race to succeed Trudeau

Canada: Ex-Deputy PM Freeland, former Central banker Carney join race to succeed Trudeau

Canada: Ex-Deputy PM Freeland, former Central banker Carney join race to succeed Trudeau ByAnirudh Bhattacharyya Jan 17, 2025 10:01 PM IST Share Via Copy Link In a brief statement posted on X, Freeland, who was also finance minister at the time of her shock resignation in December, said, “I’m running to fight for Canada”

Toronto: Former Deputy Prime Minister Chrystia Freeland and former central banker Mark Carney have become the first major contenders to join the race to succeed Canadian Prime Minister Justin Trudeau.

Deputy Prime Minister and Minister of Finance Chrystia Freeland holds a press conference in Ottawa, Ontario, on April 16, 2024. (AP)

In a brief statement posted on X on Friday, Freeland, who was also finance minister at the time of her shock resignation in December, said, “I’m running to fight for Canada.”

The official launch of her campaign will come on Sunday.

Her announcement was coupled with opeds in two Canadian publication, in English in Toronto Star and in French in Le Devoir. Their message, she posted on X, was common: “At a time when President Donald Trump is threatening our country, it’s time to fight for Canada.”

Earlier, on Thursday afternoon, Carney, who was Governor of Bank of Canada and Bank of England, made the formal announcement of his entry into the leadership race in Edmonton.

He also posted a brief message on X, stating, “I’m in.”

“I’m doing this because Canada is the best country in the world, but it still could be even better,” the 59-year-old said.

Carney was long wooed by Trudeau to join his government and served as an economic adviser. The latest attempt, in December, had the effect of precipitating the shock resignation of then Deputy Prime Minister and Finance Minister Chrystia Freeland.

However, as he played up his “outsider” status, he criticised the Trudeau government, “The Prime Minister and his team let their attention wander from the economy too often.”

“The system is not working as it should, and it’s not working as it could,” he said.

Given the threat of tariffs from the incoming Administration of US President-elect Donald Trump, Carney cited his credentials in dealing with the 2008 global financial crisis and Brexit. “I am going to be completely focused on getting our economy back on track,” he said.

Carney was appointed to lead Bank of Canada in 2008 and at the end of that tenure, he moved to London as Governor of Bank of England, and remained in that post till 2013.

He was chair of Brookfield Asset Management and on the board of directors of Bloomberg. However, he said, “I resigned all my positions — full stop. I’m all in for Canada.”

He chose Edmonton for the announcement as it was the city he grew up in.

The bio on his still basic campaign website also stated that in 2019 “he began serving as the UN Special Envoy for Climate Action and Finance — helping rally the world to build stronger economies as we fight climate change.”

The Liberal leadership race was caused by Trudeau’s announcement of his intent to resign earlier this month. The process will be complete by March 9, given the new leader just about two weeks to prepare to face Parliament, which sits on March 24, after being prorogued.

That resignation was precipitated by a revolt within the party when Freeland abruptly resigned in December.