Prime Minister Mark Carney’s financial ties to Brookfield Corporation came under renewed scrutiny after the federal Ethics Commissioner confirmed Carney’s future earnings depend on the company’s success, prompting opposition MPs to demand he sell off his stock portfolio.“It is clear Mr. Carney’s future compensation is tied to the success of Brookfield,” Ethics Commissioner Konrad von Finckenstein told the Commons ethics committee. “But in order to avoid making decisions which can be seen to benefit Brookfield and therefore indirectly himself, first of all he has put everything in a blind trust.”Conservative MP Michael Cooper said the situation speaks for itself. “Mr. Carney’s portfolio is tied to Brookfield. As Brookfield does well, so does Mark Carney,” he said..Blacklock's Reporter says Carney served as chair of Brookfield Asset Management until January 16, the day he launched his Liberal leadership campaign. U.S. securities filings show he held $9.8 million in stock options at the time.Liberal MP Gurbux Saini defended the Prime Minister, arguing Canadians knew of Carney’s corporate background when they elected him. “They knew he was chairman of the Brookfield Corporation,” said Saini. “They still voted for him and elected him. Do you want a country where a successful person should be excluded because they are successful in their private businesses?”Saini accused opposition MPs of suggesting only people “who have done absolutely nothing” should be eligible to lead the country.Records show Carney did not disclose his extensive stock holdings until July 11, months after becoming Prime Minister and campaigning in the general election. .Christiane Fox, deputy Privy Council clerk, told MPs earlier this year that staff were “working very closely with the Prime Minister’s Office to manage all of the conflicts he has declared.”Carney’s disclosure listed shares in 606 major corporations, including federal contractors and regulated firms, ranging from American Express to Walmart, along with Brookfield-linked companies such as Westinghouse Electric Canada. Bloc Québécois MP Luc Thériault noted Westinghouse benefited from tax credits in Carney’s first budget.“We’re not talking about any old public office holder,” said Thériault. “We are talking about the Prime Minister of Canada who creates legislation.”Conservative MP Michael Barrett urged Parliament to require anyone seeking the prime ministership to liquidate their stock holdings. “Shouldn’t they just sell these controlled assets and we can continue to attract good people to public office?” he said.“Is it complicated? Absolutely,” Barrett added. “Is it possible, as confirmed in this case by Brookfield? Absolutely.”
