Right man for the job? Carney passes first test
Appearing before the British parliament’s Treasury Select Committee for three hours Wednesday, Mark Carney, the future Chancellor of the Exchequer, was grilled on a variety of topics, including his economic policies, political ambitions and salary perks.
Here are a selection of his answers to questions the 13-member committee.
Biggest challenge? “The challenge we face is not the inadequacy of the framework, but the fact that there is no easy route to recovery after a major banking crisis. Recovery is inevitably slow and protracted. The healing process will take time, and patience is not a quality associated with our political debate”.
Targeting inflation? In my view, flexible inflation targeting — as practiced in both Canada and the UK – has proven itself to be the most effective monetary policy framework implemented thus far”
Managing style? “Given my background, I believe I know how to lead, when to delegate and how to forge consensus”
Salary and perks? It is consistent with many executives who move to this country or other countries and in order to equalize in broad terms from where they live to where they arrive. I’m moving from one of the least expensive cities in the world, Ottawa, to one of the most expensive.
Political ambitions: “If I had political ambitions, I would have pursued them in Canada.”
Exit strategy: “I would like to achieve an exit in 2018 that is less newsworthy than my entrance.”