Mark Carney to run for leadership of Liberal Party of Canada.

Mark Carney  to run for  leadership of Liberal  Party of Canada.
Reuters Former Bank of Canada and Bank of England governor Mark Carney stands  at a podium with a crowd and a Canadian flag in the background. He looks to  his right and  smiles. Reuters
After months of speculation about his political ambitions, former Bank of Canada and Bank of England governor Mark Carney has announced his  candidacy to lead the Liberal Party of  Canada.
Mr. Carney  officially launched his  candidacy in his hometown of Edmonton,  Alta., on  Thursday, at a hockey rink where he learned to skate as a  child.
"I'm doing this because Canada is the best country in the world, but it  can be even  better," Carney said,  standing in front of a giant Canadian  flag in the background. If he  wins the  election, Mr. Carney, 59, will succeed Prime Minister Justin Trudeau and lead the country into the next general election, which  is due later this  year.
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Earlier this month,  Mr. Trudeau announced his  intention to  step down after nine years in office once a new Liberal leader is  elected.
In Thursday's announcement,  Mr. Carney sought to  connect with his Canadian roots and  distance himself from Trudeau and his opponents across the political  spectrum.
Although he recently served as  Trudeau's economic  adviser, Mr. Carney is the only candidate in the Liberal leadership race who is not an elected member of  Trudeau's government.
Who could replace Trudeau as  leader of the Liberal  Party? The man who could become  Canada's next prime minister
He has  presented himself as an outsider who brings a wealth of financial knowledge to a country struggling with a sluggish  economy.
Under Liberal Party rules, any member of the party  — including those who are not elected  — can run for  the party leadership.  However, they are expected to seek a seat in parliament in the next election, which  Mr. Carney  has said he intends to  do.
In his  address to Canadians,  Mr. Carney  highlighted the challenges facing the country,  such as the housing affordability crisis, stagnant wages and the threat of climate  change.
"A lot of people are  being left behind," he  said.
He also  faced the threat  of tariffs from  U.S. President-elect Donald Trump, who takes office on Monday, saying Canada is  going through extraordinary  times.
Trump has suggested  possible tariffs of 25% on Canadian  goods.
"I've helped  manage multiple crises and helped save two  economies," Carney said.  "I know how business  works and I know how to make it work for  you."
Mr. Carney, who  was educated at Harvard and  Oxford, brings  extensive economic experience to the  race.
He previously worked at investment bank Goldman  Sachs and  was Canada's central  banker from 2008  — when the country became the first G7 nation to raise interest rates after the financial crisis  — until 2013. He then moved to London, where he served as governor of the Bank of England until  2020.
During his  time in office, he led efforts to support the  British economy  during Brexit,  although he  was criticized for being too political in some of his early  speeches.
Mr. Carney is also known as an advocate for environmental sustainability. In  2019, he became  the UN Special Envoy  on Climate  Change and in 2021  he created the Glasgow Financial Alliance for Net Zero, a  group of banks and financial institutions working to combat climate  change.
In recent months,  Mr. Carney  has advised Trudeau on economic matters. On Thursday, he  criticized the  incumbent prime minister for his handling of the  issue.
"I know I'm not the only Liberal in Canada who  thinks the prime minister and his team  too often let their attention  drift away from the  economy," Carney  said.
Carney's opponents in the Liberal leadership race include a number of sitting  MPs.
Former Finance Minister Chrystia Freeland is also expected to announce  her candidacy in the coming  days.
Freeland resigned from  his post in December  amid an impasse over  Trudeau's handling of Canada's fiscal  affairs.
The winner of the Liberal leadership  contest will  face the opposition Conservatives, who have a strong lead in the polls.  Its leader, Pierre Poilievre,  favored limited government and a return to "common sense"  politics.
Mr. Carney called Poilievre's ideas for Canada  "naive" and  "dangerous."
The Conservatives sought to link  Mr. Carney  to Mr. Trudeau's unpopular government, saying he  was "just like  Justin."
They also note  that he has been  an advocate of carbon pricing, which is Trudeau's signature climate policy and has  received a mixed reaction in  Canada. Mr Carney has  defended the carbon price but  appears to  have recently  stepped away from  politics, telling a Senate committee in May that it  had "served a purpose  so far".
On Thursday, he said the carbon tax should be replaced  by a policy "that is at least, if not more, effective"  for the climate without hurting Canadians'  finances.
The Liberals are  expected to elect their next leader on  March 9.
The next Canadian general election  should be held  no later than October of this  year and could  happen as early as this spring.

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