Mark Carney warns of Brexit-like regret if Alberta leaves Canada

Canadian Prime Minister Mark Carney called Alberta’s oil-rich association a “dangerous bluff” similar to the UK’s 2016 Brexit vote.

Speaking to reporters in Ottawa on Monday, Carney shared “observations from experience.”

“In these issues of separation, it is often suggested that, ‘vote for this and it is a free choice. Vote for this and we will strengthen our hand in future negotiations.’ That is a very dangerous deception,” he said.

“I saw firsthand what happened in the United Kingdom when the idea was, ‘vote for this and we will negotiate.’ And, 10 years later, they’re still trying to reverse what people didn’t think they were voting for but ended up having. “

Last week, Alberta Premier Danielle Smith announced plans for the province to hold a non-binding vote on whether to remain part of Canada or move forward with a second binding vote on secession. The vote, announced after months of separatist campaigning in Alberta, is expected to be held in the fall.

Supporters of the Stay Free Alberta movement say they have collected more than 300,000 signatures in support of the secession movement, driven in part by the perception that Alberta is being neglected by federal policy makers.

In 1995, the Canadian province of Quebec held a referendum on whether it should be independent from Canada. Voters narrowly decided to remain part of Canada, with 50.58% voting against secession.

Carney, who became Canada’s prime minister last year, served as Governor of the Bank of England between 2013 and 2020.

In 2016, when he headed the central bank, the UK narrowly voted to leave the European Union in a divisive referendum.

I British pound against major currencies after the vote and are yet to return to pre-Brexit levels. The London stock market, the IPO landscape and foreign direct investment have also suffered as a result of the fallout.

After the Brexit vote, the UK government struggled to negotiate with the EU, leading to the resignation of former Prime Minister Theresa May.

Britain, which officially left the bloc in 2020, is still dealing with a range of economic consequences. Some economists estimate that Brexit has reduced the UK’s gross domestic product by up to 8% since last year, with its departure from the EU seen as a driver of weaker employment, productivity and investment in the country.

The UK’s relationship with the EU remains a hot topic among the British electorate.

Last year, the EU and the UK announced a landmark deal to overhaul the relationship, with an agreement covering a range of issues from security and trade to tourism and fisheries.

The increasingly popular, left-wing Green Party advocates closer ties with the bloc, while Reform UK – a right-wing party threatening to outshine the ruling Labor party and the main opposition, the Conservatives – wants to leave the European Convention on Human Rights, crack down on immigration and strip EU citizens of social rights.