Catherine Swift, president of the Coalition of Concerned Manufacturers and Businesses of Canada, is sharply criticizing Prime Minister Mark Carney’s economic approach, arguing his background in global finance does not translate to practical business leadership.
“This government is failure. It was a failure under Trudeau and unless some miracle happens in the next little while, it's continuing to be a big failure under Carney,” Swift said in a recent interview. She noted she has met Carney numerous times when he served as governor of the Bank of Canada, saying he has a strong international résumé but lacks hands-on private-sector experience.
“He's not dumb guy let's face it. He isn't a dumb guy and has had this sort accomplished global career in bureaucracy,” Swift said. “What strikes me is people think he's a businessman but he's never run a business, he's never met a payroll.”
Swift took aim at Carney’s comments during a television interview in Atlantic Canada.
"He was talking about, how much steel do we use? As if steel was some kind like the tariffs on steel weren't a big deal because we didn't use much," said Swift.
"Are you kidding? I mean, that is a fundamental ignorance of the importance of a very, you know, key industry in Canada. It's huge in the auto sector is huge to so much manufacturing. When I saw that, I thought, whoa, you might have your PhD in economics, but that doesn't mean you understand the economy from the ground level."
The Coalition of Concerned Manufacturers and Businesses of Canada represents small and medium-sized manufacturers, many of which have warned that Canada’s trade exposure to U.S. tariffs and rising input costs are straining competitiveness.
Some analysts say Mark Carney has played a significant role in supporting Canada’s economy primarily through his tenure as Governor of the Bank of Canada from 2008 to 2013, where he helped steer the country through the global financial crisis.
Under his leadership, say supporters, the Bank took coordinated emergency actions — including cutting interest rates and providing liquidity to the financial system — that helped protect Canadian banks and maintain credit flows when global markets were collapsing.
Canada emerged from the crisis with one of the strongest recoveries among advanced economies, and its banking sector remained comparatively stable, say Carney supporters.
He also pushed internationally for stronger financial-sector regulations through his work with the Financial Stability Board, advancing reforms to reduce systemic risk.