Former Bank of Canada governor Mark Carney arrives to speak to reporters at the Liberal caucus retreat in Nanaimo, B.C., on Sept. 10. In the letter to Prime Minister Justin Trudeau, Conservative ethics critic Michael Barrett said Carney’s résumé represents a web of conflicts to navigate.DARRYL DYCK/The Canadian Press
Former central banker Mark Carney’s appointment as an economic adviser to the Liberal Party is an attempt to dodge federal ethics rules and ensure he can keep his corporate appointments while also advising Prime Minister Justin Trudeau, the Conservative Party said Tuesday.
In a letter to the Prime Minister, the Official Opposition asked Mr. Trudeau to appoint Mr. Carney through the traditional route as a ministerial adviser to ensure he is subject to conflict-of-interest screens and ethics rules.
Mr. Carney is the former governor of the Bank of England and the Bank of Canada. He currently serves as chair of both private media and finance company Bloomberg LP and Brookfield Asset Management, which controls about $1-trillion in assets globally.
He also sits on the boards of Stripe, a financial-services firm, and Bloomberg Philanthropies; has an advisory role with investment firm PIMCO; is the United Nations special envoy for climate action and finance; and is a member of Harvard University’s board of overseers.
On top of that, he is also a finance adviser to the British Prime Minister.
Mark Carney interested in ‘doing something, not being something,’ he says of adviser role
In the letter, Conservative ethics critic Michael Barrett said Mr. Carney’s résumé represents a web of conflicts to navigate at the same time that he is advising the Prime Minister on economic-growth policies.
He questioned whether the federal rules would even allow Mr. Carney to serve as a ministerial adviser while keeping his private work.
“If that is the case, it is clear that Mark ‘Carbon Tax’ Carney should not be in the role of advising a sitting government and Prime Minister in the first place,” Mr. Barrett said.
In a statement to The Globe and Mail, Mr. Carney noted that the position is a volunteer role, and one that all political parties rely on in different ways.
“I have long balanced public and private duties with integrity and in compliance with all applicable rules in my various roles, and am confident I will do so in my role as Chair of the Leader’s Task Force on Economic Growth,” Mr. Carney said.
The Conservatives suggested his advice would be private, but the former central banker said it will be made public, “further promoting transparency and the opportunity for public debate.”
The Prime Minister’s Office declined to provide any response to The Globe’s questions, including about whether any screens would be put in place to ensure there is no conflict of interest. It also declined to explain why Mr. Carney was appointed to the party rather than the government.
Instead, it directed The Globe to the Liberal Party, which did not answer The Globe’s questions and dismissed the concerns raised by the Conservatives.
“This is a laughable stunt from the Conservative Party,” said Liberal Party spokesperson Parker Lund.
“The Conservatives are just upset that Mark Carney supports the Liberal economic plan and not Pierre Poilievre’s disastrous cuts that would damage the economy.”
The Liberals have been trying to recruit the former central banker as a candidate for years. Mr. Carney has left the option of running for leader open but on Tuesday avoided saying why he hasn’t yet put his name forward to run as an MP. He said his new role is the result of a recent round of talks with the Prime Minister during which Mr. Trudeau tried to get him to join the government.
“I’m interested in doing something, not being something,” Mr. Carney said. “I’m an outsider, I’m providing a perspective, gathering opinions from interested Canadians and feeding them in.”
He championed the need to accelerate the transition to a low-carbon economy, calling it “a key driver of competitiveness.”
“We need real policies. We need solutions, not slogans, action, not indifference,” he said.
The potential leadership contender was welcomed by other senior Liberals who are also considered possible replacements for Mr. Trudeau, should he resign.
Industry Minister François-Philippe Champagne said Mr. Carney’s addition and his advice on the economy is a “good thing.”
“I think it’s good news,” Foreign Affairs Minister Mélanie Joly said.
Finance Minister Chrystia Freeland described Mr. Carney as a long-time personal friend with whom she already frequently speaks, and described his addition as “really great.”