Liberal leadership hopeful Mark Carney says he’d run a deficit to ‘invest and grow’ Canada’s economy

Mark Carney, a prominent figure in Canadian finance, has officially confirmed his intention to lead the Liberal Party and possibly become the next Prime Minister of Canada. In a recent interview, Carney stated that if elected, his government would run a deficit in order to invest in and grow the Canadian economy. This decision comes amidst the looming threat of tariffs from U.S. President Donald Trump, which has raised concerns about potential economic repercussions for Canada.

Carney emphasized the importance of investing taxpayer dollars in projects that would stimulate economic growth and create opportunities for private sector investment. He highlighted the need for infrastructure development, including building homes, energy systems, AI technology, and trade corridors. These investments, according to Carney, are essential for Canada’s economic prosperity, regardless of external pressures such as trade disputes with the United States.

In addition to his economic plans, Carney expressed support for the concept of a west-east oil pipeline and emphasized the need for accelerating approvals for both conventional and clean energy projects. He also pledged to address interprovincial trade barriers by collaborating with provincial leaders to create a more unified and efficient national economy.

As a potential leader facing the challenges posed by President Trump’s tariff threats, Carney remained cautious in disclosing specific strategies to navigate trade negotiations. However, he assured that discussions would resume from where they left off, should he be elected. Carney’s stance on retaliatory tariffs aligns with that of his main opponent, Chrystia Freeland, as they both advocate for a strong response to protect Canadian interests.

Carney’s entry into politics marks a significant departure from his previous role as the governor of the Bank of Canada. Despite criticisms and skepticism from some political circles, Carney emphasized his focus on economic issues and his readiness to lead the country during a time of crisis. If elected as the Liberal leader, Carney would become the first Prime Minister without prior elected office experience.

With the Liberal leadership race underway, Carney faces competition from four other candidates, including Freeland, Karina Gould, Frank Baylis, and Ruby Dhalla. All candidates must meet a financial deadline to remain in the race and participate in upcoming debates. The Liberal Party will ultimately select its new leader on March 9, paving the way for Canada’s next Prime Minister.

As the deadline approaches, Carney’s campaign has confirmed its commitment to pay the required installment, ensuring his continued participation in the race. With his vision for economic growth and strategic leadership in the face of external challenges, Mark Carney presents a compelling choice for Canadians as they prepare to elect their next leader.