Mark Carney

Mark Carney, the current prime minister, was chosen in March of 2025 by members of the Liberal Party to replace Prime Minister Justin Trudeau (b. 1971), and then confirmed by voters to a full term of office in the 2025 Canadian general election. A calm and serious administrator with little political experience, he contrasts sharply with the man he replaced, though at the time of writing his tenure has been too brief to draw any sweeping conclusions about.

The first prime minister born in Canada’s Northwest Territories, Carney grew up in Edmonton and was educated at the prestigious universities of Harvard and Oxford, where he was trained as an economist. After working abroad for the famous global finance firm Goldman Sachs in London, Tokyo, and New York, Carney returned to his birth country to work for the federal government’s finance department, eventually getting promoted by Prime Minister Stephen Harper (b. 1959) to serve as governor of the Bank of Canada — the head of Canada’s central bank, responsible for setting the country’s monetary policies — from 2008 to 2013. He was a higher-profile figure than most in this position, in large part due to the worldwide Great Recession (2008-2009) that overlapped with his tenure. Controversially, after his term ended, he moved to Great Britain to become head of the Bank of England — an unprecedented position for a non-Brit to hold, reflecting either his talents or ambition, depending on who you ask.

Carney had long been rumoured to harbour political ambitions, but consistently resisted overtures to run for office. After leaving England in 2020, he grew close to Prime Minister Trudeau, who he often counselled on economic matters. When Trudeau resigned in 2025, Carney finally made his entry into politics, and was easily elected by 86% of Liberal members to finish Trudeau’s term as PM, and lead the party into Canada’s 2025 general election, which he subsequently won. Apart from the election campaign, Carney’s tenure has so far been defined by efforts to diversify Canada’s trade relationships in the aftermath of vindictive tariffs imposed by US President Donald Trump (b. 1946) in early 2025. At a time when Canada is on the brink of recession, expectations are high that he will be able to turn around the country’s economic situation.