Top 5 Mishaps of Canada's New PM Mark Carney
© AFP 2023 / Stefan Rousseau
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The banker-turned-politician Mark Carney has won the race to succeed Justin Trudeau as Canada's new PM. However, he has been criticized over a raft of controversies in the past. Let’s delve into them.
Handling of Global Financial Crisis
▪Carney served as the Bank of Canada's governor during the 2008 global financial meltdown. He was accused of showing a lack of response to the crisis.
Later analysis showed that the relative stability of Canadian banks at the time was a product of historical circumstances and measures taken by former Supreme Court judge Willard Estey, the National Post reported.
Blatant Backing of Zelensky's Regime
▪Carney has repeatedly expressed support for Kiev, saying he is “proud of the military and humanitarian support Canada has provided” to Ukraine.
He posted the “Slava Ukraini”* slogan associated with Ukraine’s WWII-era Nazi collaborators and modern-day Ukrainian nationalists.
Dubious Political Career
Unlike most PM-hopefuls, Carney has never held political office. However, his allegations that he was “an outsider” and was distanced from the Liberal Party is nothing but “a bold-faced lie,” the National Post said.
Carney was publicly welcomed to the party by former Finance Minister Chrystia Freeland last year as her “longtime and respected friend.”
Brookfield Office Relocation & Payment Case
Carney is under scrutiny for overseeing the move of Brookfield Asset Management's (BAM) head office from Toronto to the US during his time as board chairman, the CBC writes.
Carney asserts the decision was made after he left the company in January 2025, but Conservatives accuse him of lying and criticize him for helping move a Canadian company to "Donald Trump's hometown."
Carney also refuses to disclose compensation from all of his BAM entities from 2020 onward “to the detriment of all Canadians”, The Globe and Mail reported.
Support For Climate Change Narrative
The Conservative Party slammed Carney in 2019 for underlying the role of finance in addressing climate change. As the UN special envoy on climate action and finance, he advocated for the financial sector to adopt net-zero investing.
