Mark Carney backs Trudeau as Liberal leader, does not rule out a run for office

'In the near term, the prime minister is going to be the leader of the Liberal Party in the next election,' said Carney. 'And I support him.'

Mark Carney backs Trudeau as Liberal leader, does not rule out a run for office
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Former Bank of Canada Governor Mark Carney has quashed rumours of a potential leadership bid for the Liberal Party, heading into the next federal election. 

"It's easy not to rule out something that doesn't exist," Carney told CTV News.

"So, we're in the hypothetical of hypothetical," he claimed. "In the near term, the prime minister is going to be the leader of the Liberal Party in the next election. And I support him."

While the UN special envoy on climate action and finance ruled out a leadership bid for the Liberal Party, he did not conclusively oppose a run for MP.

Carney said he has "a few years left in him" and that he "cares deeply" about Canada. He currently works as the head of transition investing for Brookfield Asset Management, with prior stints at the Bank of Canada.

"I've had the honour of serving in roles here both in the public service and as [Bank of Canada] governor, and this is a time of consequence. These are big, big issues," Carney said of cost of living, housing and the ‘net-zero’ transition. 

"We've been touching on the reshaping of the global economy, where Canada is going, and how we deliver for Canadians today and tomorrow," he added. "And there's various ways to contribute to that, and I always look for opportunities to do that."

Despite backing the prime minister, Carney left some room for speculation last November when he did not rule out a bid for the party’s leadership during an interview with The Globe and Mail.

In a prior CTV segment last April, Carney maintained the government is “on the right track,” and that he “supports the prime minister.”

Trudeau has insisted his plans are to lead the party into the next federal election, which is currently scheduled for October 2025.

The remarks from Carney immediately followed comments from Newfoundland MP Ken McDonald, who urged party brass to call for Trudeau’s leadership review before the election. He later walked back his comments.

"As a party, let's clear the air," he told Radio-Canada, "and if people are still intent on having the leader we have now, fine."

The three-term Liberal MP previously broke rank with the government to support a failed motion to scrap the carbon tax, amid costs spiralling out of control for his constituents.

"There's almost a hatred out there right now for Prime Minister Trudeau," he said on January 24.

An updated statement reversed course, with McDonald claiming Trudeau is "a smart politician" and "a great campaigner" who has the "best interest of Canadians at heart." He vowed to continue supporting Trudeau as party leader.

Former Finance Minister Bill Morneau also criticized the prime minister publicly, condemning Trudeau for making vaccine mandates a political wedge in the 2021 federal election. "I didn't see that as helpful," said Morneau in a media interview.

He also criticized Trudeau last January for splurging too much during the COVID pandemic. He admitted the consequence of printing hundreds of billions is a potential recession.

"Look, we could have done better while I was there,” said Morneau. “I think the government can do better now."

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