Carney should be careful of Liberal yearnings to run

Sterling reputation would be sullied,

Mark Carney represents the ideal politician for many in the Liberal party.

The appeal of Canada’s former top banker, the man who navigated the country’s economy through the Great Recession, stems from being perfectly bilingual, a technocrat, a civil servant, and a significant tenure at the Bank of England before becoming the UN special envoy on climate change.

Carney would bring with him to the House of Commons unparalleled economic and financial intelligence and, should he enter as a Liberal, the opportunity for the government to veritably wrestle the economic problems posed by COVID -19.

The resignations of Bill Morneau and Michael Levitt may have presented Carney with the tantalizing prospect of running for public office. Carney, however, has been reticent to jump into federal politics. When asked if he would run for Liberal leader after the 2011 election, he retorted, “Why don’t I become a circus clown?” Given that the Liberals likely could have fit their entire caucus in a clown car, Carney’s likening of the Liberals to a circus was not far off the mark.

But the allure of Mark Carney persists. It persists among a certain class of Liberal who wants to see the party return to one of sound fiscal and economic governance.

It reflects the desire to have the party led by a technocrat with policy knowledge, one who has accumulated considerable political capital both inside and outside of Canada, and one who has previously navigated the difficult waters of public life — hopefully preparing him to avoid similar political missteps that this government has taken.

Carney’s preferred political party is unknown. ...

He would do well to keep his powder dry until Trudeau is no longer leader.

In contrast, the Liberals have been involved in numerous public scandals, ranging from the prime minister’s decision to vacation on the Aga Khan’s private island, to the disastrous handling of the SNC-Lavalin affair — an affair of which 83 per cent of respondents in the Canadian Election Survey said that the government handled “not very well” or “not at all well,” as did 70 per cent of people who reported voting for the Liberals — and the government is now embroiled in the WE scandal.

Trudeau, in my mind, has wisely selected Chrystia Freeland as Canada’s finance minister. Freeland is, without doubt, the most competent member of the current government. She becomes Canada’s first female finance minister and is likely the party’s next leader.

For the moment, this likely limits Carney’s immediate entrance into federal politics, even with the eventual byelections. Regardless, rumours still abound that Carney is destined to jump into federal politics, to bring fiscal and economic smarts to a government running deficits and mired in political scandals. It’s little wonder why the Liberals wouldn’t want a new caucus member who would make an immediate impact and would, dare I say, be the most competent and qualified person in the government if not the house.

The Liberal fascination with Carney is problematic for two reasons: First, Carney’s preferred political party is unknown. Second, he would do well to keep his powder dry until Trudeau is no longer leader.

Carney has spent considerable time growing his credentials, and jumping into federal politics risks tainting himself with the scandals of the current government.

He would do well to bide his time and wait for Trudeau to leave office. By waiting, Carney can enter the party as a political newcomer but not a political neophyte, distanced from the sins of this government.

But jumping into the Liberal party now risks spoiling the political capital he has developed.

Of course, the speculation over Carney’s potential foray into actual politics is exciting. He represents the technocratic policy expert that politics needs more of. But if Carney once thought the Liberals were a circus, he would do well to wait for the ring leader to leave and the circus music to stop.