Former Bank of Canada governor Carney to speak at Liberal caucus retreat next week

The former governor of the Bank of Canada who has long been touted as a possible Liberal candidate or successor to Prime Minister Justin Trudeau will give the party some advice on the economy at the Liberal caucus retreat in Nanaimo, B.C. next week.

Mark Carney will address Liberal MPs about the economy and a plan for growth as the caucus meets to plot strategy both ahead of the imminent return of Parliament and the looming federal election.

The Liberals are entering the caucus in disarray following more than a year of bad polling as they absorb the shockwave of the decision this week by the NDP to end the supply and confidence deal that had been ensuring the government’s existence.

Trudeau is expected to get an earful from MPs, dozens of whom are facing the real prospect of losing their seats and who just spent the summer in ridings where Canadians were lukewarm to their offerings.

The handling of the economy and specifically inflation, cost-of-living problems and housing affordability, have plagued the Trudeau Liberals who have not been able to gain traction against the economic messaging of Pierre Poilievre and his Conservative party.

Carney, the governor of the Bank of Canada from 2008 to 2013 and the Bank of England from 2013 to 2020, is now the UN special envoy on climate action and finance.

Carney and Trudeau have been in discussions for months about what role he can play helping the party develop its economic policies and platforms heading into the next election.

He has long been in the mix as a potential Liberal candidate but has not yet sought a nomination and he is also on most short lists as someone expected to seek the Liberal leadership when Trudeau decides to step down.

This report by The Canadian Press was first published Sept. 6, 2024.