(Bloomberg) — Mark Carney, the former governor of the Bank of Canada and Bank of England, will be an official adviser to Prime Minister Justin Trudeau’s Liberals on economic growth and productivity, the party announced Monday.
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Carney, whose name has frequently been floated as a potential successor to Trudeau as party leader, will also speak to the Liberal members of Parliament this week as the caucus gathers in British Columbia.
The new role is not a government position, but instead for the political party as it prepares for an election that could come any time in the next year.
Advising Trudeau is nothing new for Carney, who has spoken at numerous Liberal events over the years and been in regular contact with the prime minister. In the summer of 2020, Bloomberg reported Carney was informally advising Trudeau on how to pull Canada out the economic shocks of the Covid pandemic.
Carney will now chair a task force to help “develop and shape ideas for the next phase of Canada’s strategy for near- and longer-term economic growth and productivity,” according to a party statement. It said Carney will meet with various business leaders, labor organizations, Indigenous groups and others, and provide a report.
Trudeau’s Liberals are struggling to recover in the polls as they prepare for an election. The soaring cost of housing, post-pandemic inflation and a surge in temporary immigration have all hurt the government’s popularity. Pierre Poilievre’s Conservative Party has charged ahead to a large lead in public opinion polling over the past year.
The New Democratic Party withdrew from a parliamentary power-sharing deal with the Liberals last week, making Trudeau’s hold on the country’s highest office more tenuous. The government could fall unless it’s able to secure support from one of the main three opposition parties on key votes.
Carney currently serves as chair and head of transition investing at Brookfield Asset Management and the UN special envoy for climate action and finance. He also holds a number of other philanthropic and business roles, including as chair of Bloomberg Inc.
The former central bank governor has not publicly committed to running for office despite Trudeau’s comments earlier this summer that he has been trying to recruit Carney as a Liberal candidate for years.
“Canada’s Liberals have achieved real progress for all Canadians,” Carney said in the party statement. “With a winning growth plan, we can build the strongest economy in the G-7 and an even better future for all.”
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