Ethics

Question period focused on the Prime Minister’s financial holdings in Brookfield and the ethics committee’s recommendations. Conservative members said his blind trust is not truly blind because he can still benefit from stock options and future bonuses, raised committee testimony about Brookfield assets held offshore, and asked him to sell the assets and close a loophole in the Conflict of Interest Act that lets public office holders make decisions they could personally profit from. The Liberal House leader replied that the Prime Minister follows ethics rules the Conservatives themselves brought in, placed all his assets in a blind trust when he became leader, and rejected the allegations as false, while also criticizing the Conservative leader for not obtaining a security clearance.Written by AI from the debate. Updated .

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6 statements

Michael Cooper, St. Albert—Sturgeon River

Conservative
“The ethics committee told the Prime Minister to sell his Brookfield investments. His blind trust is not truly blind because he can still make millions from it. Will he listen to the committee and sell them?”
Official Hansard

Mr. Speaker, the ethics committee has issued a report calling on the Prime Minister to divest himself from Brookfield. Now, the Prime Minister has set up a blind trust, but the problem is that it is not truly blind, because the Prime Minister stands to make millions from stock options and future bonus pay from an investment fund that he personally set up while he was at Brookfield. Will the Prime Minister finally do the right thing and divest himself from Brookfield, or is he going to defy the direction of the ethics committee?

Steven MacKinnon, Minister of Transport and Leader of the Government in the House of Commons

Liberal
“The Prime Minister follows Canada's strict ethics rules. He put all his assets into a blind trust before taking office. Meanwhile, the Leader of the Opposition has gone 22 years without getting a security clearance.”
Official Hansard

Mr. Speaker, the Prime Minister, as we all must, all 343 of us, follows the rules, which are among the strictest in the world. These are rules that the Conservatives put in place under Prime Minister Harper. The Prime Minister has disposed of all his assets in a blind trust. He did so on the day of his election as the Liberal Party leader, five days before he was sworn in as Prime Minister. Contrast that with a 22-year run of not having a security clearance, which is the position in which the Leader of the Opposition finds himself.

John Brassard, Barrie South—Innisfil

Conservative
“The Prime Minister helped an investment firm hide billions in offshore tax havens before he took office. He can still make millions from that firm through his investments while he makes government decisions. Will he sell those assets so he no longer has a conflict of interest?”
Official Hansard

Mr. Speaker, in a review of the Conflict of Interest Act, the ethics committee heard that while the Prime Minister was Trudeau’s economic adviser and chair of Brookfield, he set up one of Canada’s largest tax-dodging schemes by hiding $5.3 billion in offshore tax havens. Brookfield’s CEO also confirmed that the Prime Minister will make millions from what is in his blind trust by aligning public policy with Brookfield’s strategy. The committee recommended that the Prime Minister divest his holdings to ensure that he is acting in the best interests of the country and not his personal self-interest. Will the Prime Minister divest his Brookfield assets to eliminate his conflicts of interest?

Steven MacKinnon, Minister of Transport and Leader of the Government in the House of Commons

Liberal

Linked statement

“These accusations are not true. The Prime Minister follows Canada's strict ethics rules, which were created by the Conservatives. He put his assets in a blind trust as soon as he became party leader. Meanwhile, the Conservative leader has spent 20 years in Parliament without a security clearance.”
Official Hansard

Mr. Speaker, of course those accusations are ridiculous. Just like us, the 343 members of this House, the Prime Minister has abided by some of the strictest rules in the entire world. These rules were put in place by the Conservatives and Mr. Harper. The Prime Minister placed all of his assets in a blind trust on the day he was elected leader of the Liberal Party, even before he became Prime Minister. Contrast that with the Leader of the Opposition, who has spent 20 years in the House without a security clearance.

John Brassard, Barrie South—Innisfil

Conservative
“Our ethics laws let politicians make decisions that help them make money. The Prime Minister could make millions from his own choices. Will he promise to close this loophole?”
Official Hansard

Mr. Speaker, the ethics committee also recommended that the general application provisions of the Conflict of Interest Act need to change. That means that a public office holder, including a highly conflicted prime minister, can be involved in decisions they benefit from personally, even though they are in conflict. Brookfield’s COO again confirmed that the Prime Minister will make millions from public policy decisions that align with Brookfield’s strategies. Will this Liberal Prime Minister commit today to address this loophole in the law so Canadians have confidence that he is making decisions in the best interests of the country, not his own or Brookfield’s?

Steven MacKinnon, Minister of Transport and Leader of the Government in the House of Commons

Liberal
“These claims are completely fake conspiracy theories. The opposition should be ashamed for repeating them.”
Official Hansard

Mr. Speaker, these are, of course, the most spurious, bottom-of-the-barrel conspiracy theories and allegations that one can possibly imagine. It is imagined, it is fake, and the members of the opposition who continue with this fantasy tale should be ashamed of themselves.

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