A new Canadian PM | Power Line

On Friday, Mark Carney was sworn in as His Majesty’s 24th Prime Minister of Canada. He replaces nepo baby Justin Trudeau, who had served in the office for the past decade.

I must confess that I am completely baffled by Westminster-style parliamentary democracy. As I understand it, Carney is not a member of the Canadian Parliament, has never been a member of parliament, nor has he ever held elected office.

As Prime Minister, Carney is appointed to the King’s Privy Council (PC) of Canada, a boy that advises the King and his Canadian representative, the Governor-General. Being a member of the PC does not make one a member of Parliament (either chamber), but it does convey the honorific “the Right Honorable.”

By contrast, Trudeau is still a member of Parliament, representing a district (riding) in Montreal in the House of Commons.

By profession, Carney is a central banker, having been head of both the Bank of Canada and the Bank of England. As a young man, I had a brief career in central banking (entry level, not CEO level). Still, I would not consider that background as necessarily good preparation for holding national political office.

Carney has also worked, at various times, for the United Nations and for Goldman Sachs, serving in their Boston, New York, London, Tokyo, and Toronto offices.

Although born in Canada, he holds degrees from Harvard and Oxford. Reportedly, he also currently holds Canadian, British, and Republic of Ireland citizenship. It’s not clear to what extent he’s actually Canadian.

In his first act as Prime Minister, Carney by decree got rid of the national carbon tax. I say by decree because Parliament is not currently sitting, having been suspended by Trudeau early in January near the start of the crisis that led to his eventual ouster. It will not resume sitting until Monday, March 24.

Carney also serves as the head of Canada’s ruling Liberal party. Between now and October, Carney is obligated to call a general election. So, his term as PM may end up being short-lived.

Last fall, as Trudeau appeared to be on his way out, the Conservative party appeared to be a lock to win the next election and a governing majority. With the passage of time, and Carney’s apparent move to the middle, that outcome is less certain.

There is an ancient joke media headline that reads, “Worthwhile Canadian Initiative.” But I would argue all of this is worth paying attention to for the next year. America appears to be engaged in protracted trade war with our neighbors to the north.

This manifested itself the other day when the putatively Conservative Premier of the Ontario province generated headlines by threatening to cut off the trickle of electricity that flows across his international border with the U.S.

Look out above!