Justin Trudeau’s Liberal government is receiving policy help from former Bank of Canada governor Mark Carney as it develops an economic recovery plan from the Covid-19 pandemic, according to various media reports.
Bloomberg was first to report on Monday that Carney, who stepped down as Bank of England governor earlier this year, has become an informal policy adviser to the prime minister. Other outlets followed, all citing unnamed sources.
Trudeau is using Carney as a “sounding board” for a recovery plan that tackles Canada’s social safety net, climate change, infrastructure and immigration, Bloomberg reported. Parts of the recovery plan will be unveiled in a fall budget update.
In addition to heading the Bank of Canada and the Bank of England, Carney, a former Goldman Sachs banker, chaired the Financial Stability Board and helped spearhead the Task Force on Climate-related Financial Disclosures. He’s currently serving as the United Nations’ special envoy on climate action and climate finance.
In June, Carney said he’s working on a book about building a more inclusive society out of the Covid crisis.
Speculation about Carney’s interest in politics has followed him since his time as Canada’s top banker. He has been considered a potential future leader of the Liberal party.
The reports noted that Carney’s involvement comes as Trudeau’s finance minister, Bill Morneau, is caught up in the WE Charity scandal.
Michael Sabia, the former chief executive of the Caisse de dépot et placement du Québec who now chairs the Canada Infrastructure Bank, is also advising the prime minister on the recovery plan, reports said.