The Canadian Pension Plan (CPP) holds shares in Brookfield Asset Management, the company Prime Minister Mark Carney chaired before he was elected Liberal leader.
Carney, who served as former Prime Minister Justin Trudeau’s economic advisor since 2020, has been under fire for conflicts of interest involving Brookfield since he announced his leadership candidacy in January.
Carney chaired multiple boards leading up to his January 16 leadership announcement, all of which he said he resigned from. He consistently refused to disclose whether he still holds Brookfield shares up until he finally admitted this week his assets have been transferred to a blind trust.
In the wake of a Toronto Star article attempting to expose Tory leader Pierre Poilievre for holding investments in Brookfield, it has surfaced that the CPP, which holds funds for working Canadian taxpayers, also holds Brookfield shares.
“Pierre Poilievre holds investments in Brookfield — the same company he attacks Mark Carney over,” said the Star.
“In the opening days of the federal election, Poilievre and the Conservatives have hammered Carney over his former role as chair of Brookfield Asset Management, a major part of the global investment firm, Brookfield Corporation.”
Poilievre’s stake in Brookfield is through a diversified Exchange-Traded Fund (ETF), not a direct stock holding, as the Toronto Star implied.
The Star's misleading allegation against Poilievre is missing the key component — owning Brookfield stocks, directly or indirectly, is not the point of contention. Having a sitting prime minister that holds millions in shares in his former company that also gets awarded government contracts is.
