Former Bank of Canada and Bank of England governor becomes 24th PM and expected to call election soon
Mark Carney has been sworn in as Canada’s 24th prime minister, capping a sudden rise to power for the former governor of the Bank of Canada and the Bank of England.
Less than a week ago, Carney beat the former finance minister Chrystia Freeland, the former government house leader Karina Gould and the former member of parliament Frank Baylis with a dominant 85.9% of the vote, in a closely watched leadership race. He has no prior elected experience and does not have a seat in the House of Commons, making him a rarity in Canadian history.
Carney is expected to announce an election in the coming days, reflecting both the urgency of Canada’s trade war with the US, and the awkward reality that as prime minister without a seat in parliament, he is unable to attend sessions of the House of Commons.
The effects of Donald Trump’s economic attack on Canada are so wide-ranging and so damaging that they are likely to overshadow all other issues in the coming months. US trade tariffs, if held in place for an extended period of time, could push Canada’s fragile economy into a recession and unleash a cascading chain of knock-on upheavals.
An election would also put limits on spending for political parties, which disproportionately affect the cash-flush Conservative party.
