{"id":51902,"date":"2024-10-22T14:50:58","date_gmt":"2024-10-22T14:50:58","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/10\/22\/mark-carney-says-conservative-party-doesnt-understand-the-economy\/"},"modified":"2024-10-22T14:50:58","modified_gmt":"2024-10-22T14:50:58","slug":"mark-carney-says-conservative-party-doesnt-understand-the-economy","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/10\/22\/mark-carney-says-conservative-party-doesnt-understand-the-economy\/","title":{"rendered":"Mark Carney says Conservative Party doesn&#8217;t understand the economy"},"content":{"rendered":"<p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header article-header--story\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\" data-aqa=\"nav-breadcrumb\">\n<p>Breadcrumb Trail Links<\/p>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\">News<\/li>\n<li class=\"breadcrumbs__item\">Economy<\/li>\n<\/ol>\n<\/nav>\n<div class=\"article-header__detail\">\n<div class=\"article-header__detail__texts\">\n<p class=\"article-subtitle\">Improving productivity and attracting more business investment among Liberal adviser&#8217;s priorities<\/p>\n<div class=\"article-meta\">\n<p><span class=\"published-date__since\">Published Oct 22, 2024<\/span> \u00a0\u2022\u00a0 <span class=\"updated-date__since\">Last updated 29\u00a0minutes ago<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">3 minute read<\/span><\/p>\n<div class=\"article-meta__bottom\">\n<div class=\"bookmark-wrapper\">\n<div class=\"popover\" data-aqa=\"popover\" data-click-to-appear=\"True\" data-container=\"\" data-container-offset=\"\" data-no-style=\"\" data-popover-component=\"\" data-position=\"top\" data-sticky=\"\" data-tail-offset=\"200\" data-tail-position=\"right\"><button class=\"popover__trigger bookmark-button\"><span class=\"save-article-button save-article-button--default\" title=\"Save article\" data-article-id=\"f4007d6f-c68b-48dd-a09b-cf79e2c61b09\" data-evt-skip-click=\"true\"\/><\/button><\/p>\n<div aria-describedby=\"popover-desc-popover-bookmark\" class=\"popover__content\" hidden=\"\" role=\"dialog\">\n<div class=\"popover__content__wrapper\">\n<div class=\"popover__content__text\" id=\"popover-desc-popover-bookmark\">\n<div class=\"bookmark__popover__content\">\n<p>You can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n<p><button class=\"popover__content__close\" data-evt-skip-click=\"true\" title=\"Close\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewbox=\"0 0 12 12\" class=\"icon--close\" height=\"12\" version=\"1.1\" width=\"12\"><polygon points=\"12 0.95 11.05 0 6 5.05 0.95 0 0 0.95 5.05 6 0 11.05 0.95 12 6 6.95 11.05 12 12 11.05 6.95 6\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<figure class=\"featured-image\" data-aqa=\"featured-image\"><picture class=\"featured-image__ratio\"><source media=\"(min-width: 1200px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/mark-carney-1022-ph.jpg?quality=90&amp;strip=all&amp;w=564&amp;h=423&amp;type=webp&amp;sig=GfmfdoXGO7dCvJGbj_fhiQ,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/mark-carney-1022-ph.jpg?quality=90&amp;strip=all&amp;w=1128&amp;h=846&amp;type=webp&amp;sig=zi3HBmSfdm7pkb9CBvZlTQ 2x\" type=\"image\/webp\"><source media=\"(min-width: 1200px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/mark-carney-1022-ph.jpg?quality=90&amp;strip=all&amp;w=564&amp;h=423&amp;type=jpg&amp;sig=MBBrP6vZssphpHvwgOj4Tw,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/mark-carney-1022-ph.jpg?quality=90&amp;strip=all&amp;w=1128&amp;h=846&amp;type=jpg&amp;sig=nZuQheAvnxNUp9HWb__GDA 2x\" type=\"image\/jpeg\"><source media=\"(min-width: 768px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/mark-carney-1022-ph.jpg?quality=90&amp;strip=all&amp;w=472&amp;h=354&amp;type=webp&amp;sig=GcRt_pOfFyTPjVoRC-NyYw,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/mark-carney-1022-ph.jpg?quality=90&amp;strip=all&amp;w=944&amp;h=708&amp;type=webp&amp;sig=Rvh1ldpjw3FG26UdN9PSTA 2x\" type=\"image\/webp\"><source media=\"(min-width: 768px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/mark-carney-1022-ph.jpg?quality=90&amp;strip=all&amp;w=472&amp;h=354&amp;type=jpg&amp;sig=roCUaBIOOvUx6lWdbaSK5Q,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/mark-carney-1022-ph.jpg?quality=90&amp;strip=all&amp;w=944&amp;h=708&amp;type=jpg&amp;sig=i2_N8fKQf67Lo0-4ZmwEbQ 2x\" type=\"image\/jpeg\"><source media=\"(max-width: 767px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/mark-carney-1022-ph.jpg?quality=90&amp;strip=all&amp;w=288&amp;h=216&amp;type=webp&amp;sig=BdmjV40_KfG2bMIK7hJ4qg,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/mark-carney-1022-ph.jpg?quality=90&amp;strip=all&amp;w=576&amp;h=432&amp;type=webp&amp;sig=XwFPxCIKV1RbHoLd-KOPgw 2x\" type=\"image\/webp\"><\/source><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">Mark Carney leaves after speaking to reporters at the Liberal caucus retreat in Nanaimo, B.C. in September. Carney was on Liberal MP Nate Erskine-Smith&#8217;s Uncommons podcast on Oct. 18. <\/span> <span class=\"credit\">Photo by Darryl Dyck<\/span> \/<span class=\"distributor\">The Canadian Press<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p data-async=\"\">Former Bank of Canada and Bank of England governor Mark Carney has taken aim at the Conservatives while laying out his priorities on how to secure future growth and productivity for the economy.<\/p>\n<p data-async=\"\">\u201cOne of the things that has drawn me more into politics right now is we have an opposition who is leading in the polls (and) who doesn\u2019t understand the economy,\u201d Carney said during an episode of Liberal MP Nate Erskine-Smith\u2019s Uncommons podcast on Oct. 18. \u201cDoesn\u2019t understand where the world is going; doesn\u2019t understand what is necessary to build this economy for Canadians; who think it\u2019s a series of simplistic slogans; there\u2019s nothing behind those slogans.\u201d<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_2\">\n<section aria-describedby=\"advertisment7618237269139481604462191679897600\" class=\"ad\">\n<p>Advertisement 2<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-2\">\n<div class=\"ad__inner__container\" data-ad=\"[[6,6],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"6x6\" data-ad-loc=\"2\" data-ad-mobile=\"[[6,6],[320,50],[300,50],[300,250],[300,600]]\" data-aqa=\"advertisement\" id=\"ad-2\" style=\"--desktopHeight:250px;--mobileHeight:600px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<div class=\"article-block article-block-bg 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the comments<\/li>\n<li>Enjoy additional articles per month<\/li>\n<li>Get email updates from your favourite authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n<div class=\"identity-screen m-x-0 p-x-0 col-xs-12 col-md-6 flex-justify-center flex-align-center\" aria-live=\"assertive\">\n<section class=\"sail\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-sailthru-personalization-engine=\"\" data-sailthru-personalization-engine-component=\"\"\/>\n<div class=\"m-x-0 p-x-0 col-xs-12 col-sm-6 col-md-12 flex-align-justify-center\" data-auth-component=\"\" id=\"auth-screen-form\">\n<div class=\"identity-screen-form--active w-full flex-align-justify-center\">\n<div class=\"identity-screen-form identity-screen__content w-full\">\n<h2 class=\"blocker-title\">Sign In or Create an Account<\/h2>\n<p><span class=\"identity-divider__line\"\/><span class=\"identity-divider__text\">or<\/span><span class=\"identity-divider__line\"\/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<footer class=\"identity-footer identity-screen__content m-x-0 p-x-0 col-sm-6 col-md-12\"\/><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p data-async=\"\">Carney, who currently serves as United Nations Special Envoy on climate and finance as well as chair of Brookfield Asset Management Ltd., was appointed by the Liberal Party of Canada last month to lead an economic task force and provide advice to Prime Minister Justin Trudeau.<\/p>\n<p data-async=\"\">Carney\u2019s political aspirations have been the source of speculation for years. He first got involved in partisan politics back in 2021, when he delivered a virtual speech to the Liberal\u2019s convention. While he provided no timeline on when he might run for political office, in conversation with Erskine-Smith, he did take aim at Conservative leader Pierre Poilievre.<\/p>\n<p>\u201cI\u2019m not casting aspersions on people who are lifelong politicians,\u201d he said. \u201cFor example, someone like Pierre Poilievre, who has been a lifelong politician, talks about the market in a way and the economy in a way that portrays a very limited understanding about how the economy actually works.\u201d<\/p>\n<p data-async=\"\">The Conservatives fired back, with deputy leader Melissa Lantsman saying Carney is \u201cdesperately trying to distract from the carbon tax and other disastrous Liberal policies he supports that are crushing Canadians.<\/p>\n<\/section>\n<div class=\"js-widget-content article-content__widget-group article-content__widget-group--content-slot14 article-content__widget-group--newsletter-slot\">\n<section class=\"newsletter-widget__new-story-page fp-headlinenews background--primary-light-gradient\" aria-labelledby=\"FinancialPostTopStories5923752254374668430879562961780736\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" data-newsletter-component=\"\" data-target-list=\"FP_HeadlineNews\" data-widget=\"newsletter\">\n<div class=\"newsletter-new-story-page-template\">\n<div class=\"newsletter-widget__header__new-story-page\">\n<div class=\"newsletter-widget__banner__new-story-page\"><img decoding=\"async\" alt=\"Top Stories\" loading=\"lazy\" src=\"https:\/\/dcs-static.gprod.postmedia.digital\/17.2.2\/websites\/images\/newsletters\/icon-fp-topStories.svg\"\/><\/div>\n<div>\n<p>Top Stories<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">Get the latest headlines, breaking news and columns.<\/p>\n<\/div>\n<\/div>\n<div class=\"newsletter-widget__body__new-story-page\">\n<div class=\"js-replace-main__new-story-page\">\n<p class=\"newsletter-widget__disclaimer__new-story-page text-size--tiny\">By signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n<div class=\"js-submit-success\" hidden=\"\" id=\"submitSuccessFP_HeadlineNews\">\n<p>Thanks for signing up!<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">A welcome email is on its way. 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Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_3\">\n<section aria-describedby=\"advertisment8717019444298099191101870080786432\" class=\"ad\">\n<p>Advertisement 3<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" data-aqa=\"advertisement\" id=\"ad-3\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>\u201cWhen Carbon Tax Carney isn\u2019t advising Trudeau to quadruple the carbon tax and make life more expensive for Canadians, he has used his insider access to promote policies that benefit himself and line his pockets like in the case of his Heat Pump Hustle or his investment firm\u2019s pitch to get 10 billion in taxpayer dollars from Trudeau for a pension fund,\u201d she said in a statement.<\/p>\n<p>Carney has been the subject of Conservative criticism for some time now, with members calling him an \u201cout of touch elite.\u201d<\/p>\n<p data-async=\"\">Earlier this month, Conservative MP Michael Barrett asked the federal lobbying commissioner to review whether Carney\u2019s position as both chair of Brookfield and an adviser to the Liberals violates any lobbying rules. Brookfield has reportedly pitched a potential new multibillion-dollar investment fund that would take capital from Canadian pension funds and the federal government.<\/p>\n<p>During the podcast, Carney pointed to some of the priorities he is focused on as an adviser, such as closing the productivity gap between Canada and the United States by attracting more business investment.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_4\">\n<section aria-describedby=\"advertisment9822294298335557628851498323542016\" class=\"ad\">\n<p>Advertisement 4<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-4\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"4\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-4\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>\u201cWhen you look outside of the resources sector, we just don\u2019t invest in our workers,\u201d he said. \u201cPart of it, fundamentally, is about underinvestment. Why is that the case, and how can we change it?\u201d<\/p>\n<p>Another area Carney is looking at is tax policy and regulations, although he did not provide much detail on what regulatory or tax changes he would advise the liberals to implement.<\/p>\n<p>\u201cThis is part of the challenge, which is there is not one magical change to the tax system or one regulation you adjust that is going to instantly right this, or close the gap; you have to look at a series of options in order to get there,\u201d he said. \u201cBut that is going to be a core focus.\u201d<\/p>\n<p data-async=\"\">Carney, a big proponent for a carbon-free economy, said Canada should prioritize carbon industries it can do well in and dominate. He also said there\u2019s a need to have a path forward for implementing artificial intelligence.<\/p>\n<p>\u201cWe are entering two industrial revolutions at the same time: the sustainable revolution and the AI revolution,\u201d he said.<\/p>\n<section aria-labelledby=\"moreTopicLabel4056266659196960455308217434505216\" class=\"more-topic\" data-aqa=\"embed-more-topic\" data-carousel-component=\"\" data-carousel-icon-button=\"\" data-carousel-type=\"list\">\n<p>Recommended from Editorial<\/p>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-prev\" data-carousel-prev=\"\" tabindex=\"-1\" title=\"previous\" type=\"button\"\/><\/p>\n<ol class=\"more-topic__items list-unstyled\" data-carousel-slide-list=\"\" tabindex=\"0\">\n<li data-evt-val=\"{\" control_fields=\"\" mp=\"\" targets=\"\" brookfield=\"\" carney=\"\" in=\"\" watchdog=\"\" push=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" alt=\"Former Bank of Canada governor Mark Carney leaves after speaking to reporters at the Liberal caucus retreat in Nanaimo, B.C. Sept. 10, 2024. \" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/1004-bc-carney-.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=z44Q4rJahT07IJtIwc1PbQ\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/1004-bc-carney-.jpg?h=96&amp;strip=all&amp;quality=5&amp;sig=vj9JUY3FXNsqzet9QSc0zw\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/1004-bc-carney-.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=z44Q4rJahT07IJtIwc1PbQ, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/1004-bc-carney-.jpg?h=192&amp;strip=all&amp;quality=80&amp;sig=trUG7mJJrmbBcNrsEi59og 2x,&#10;                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/1004-bc-carney-.jpg?h=288&amp;strip=all&amp;quality=80&amp;sig=AJ3W3Xi7kJcfSRh6gN55lA 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Conservative MP targets Brookfield, Carney in watchdog push<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" carney=\"\" to=\"\" lead=\"\" liberal=\"\" economic=\"\" task=\"\" force=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" alt=\"Former Bank of Canada governor Mark Carney.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/no0909carney.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=Z_VRsgCD79KcjQXO9-SxNQ\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/no0909carney.jpg?h=96&amp;strip=all&amp;quality=5&amp;sig=xuLu-rxBB0yrAVhEyy_4Uw\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/no0909carney.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=Z_VRsgCD79KcjQXO9-SxNQ, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/09\/no0909carney.jpg?h=192&amp;strip=all&amp;quality=80&amp;sig=3p8JPOrZ-4RYuQ6xBkMQuw 2x,&#10; 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