Ottawa is facing fresh political heat as MPs move to rewrite federal ethics law in a bid to force Prime Minister Mark Carney to sell off millions in shares tied to his former employer. Blacklock's Reporter says the Commons ethics committee has formally asked Parliament to overhaul the Conflict Of Interest Act after Conservatives accused the Liberal leader of exploiting what they call the “Carney loophole.”Opposition MPs said Carney’s decision to hold onto his stocks raised red flags. In a Supplementary Opinion filed with the committee’s report, they wrote that Conservatives had “serious concerns about the Prime Minister’s unprecedented corporate and shareholding interests,” and that his refusal to divest was troubling. They argued Carney could have taken steps that “would have reduced the serious, ongoing ethical concerns” surrounding his financial ties.The full committee urged Parliament to revisit the Act to boost transparency and curb conflicts, including tighter controls on assets in tax havens, limits on blind trusts, expanded coverage to political party leaders, and tougher penalties..Carney entered office with roughly $9.8 million in Brookfield Corporation stock options and held additional shares in various subsidiaries, affiliates and beneficiaries, some of which had federal contracts. Brookfield COO Justin Beber told MPs on November 24 the firm has “over 2,000 businesses” across its portfolios as part of its spending strategy. When asked whether the federal budget could affect specific contracts, Beber replied he wasn’t close to each company.Carney chaired Brookfield Asset Management until January 16, stepping away as he entered the Liberal leadership race. He disclosed his assets July 11, months after winning both the party leadership and the April 28 election..Conservative Leader Pierre Poilievre said March 9 that the Act must be rewritten so future candidates can’t take office without revealing their holdings. He said mandatory stock sales are essential to protect taxpayers. “Who does a Prime Minister work for?” Poilievre asked. “You pay his salary. He spends your money.”Poilievre warned Canadians to consider the risks. “What if he has millions of dollars of financial interests that are opposite your interests? What if he is profiting from insider knowledge or power at your expense?” he said. “What if his interests lie with foreign hostile governments that can undermine our country? Then he is not working for you, he is working against you.”
