It's been a bad couple of weeks for Bill Morneau. Yesterday he said he will put his considerable wealth in a blind trust. Tim Harper writes:
Morneau finally did the right thing, placing his substantial assets in a blind trust and announcing he would begin divesting his interest in the family business, Morneau Shepell.
Except this was 2017.
This should have been done a couple of years ago, because, to paraphrase Justin Trudeau, it was 2015.
If the ship of state is ever to be put on an even keel -- a proposition that appears less and less likely -- loopholes for the wealthy have to be closed. That's what Morneau said he was trying to do, even as he continued to profit from those loopholes. Nathan Cullen cut to the quick:
Here’s the nub of the conflict charge, as raised by New Democrat Nathan Cullen, an unproven allegation that nonetheless brings some smoke.
When Morneau introduced Bill C-27, legislation to make it easier for federal employees to move to a targeted benefit pension, a move which would benefit Morneau Shepell, the company’s stock went up 4.8 per cent within days, Cullen says. Morneau, he said, would have made $2 million in five days from that jump. But it’s not known that Morneau was holding or selling stock at that time.
Justin Trudeau's Liberals ran as progressives. But the Minister of Finance can't unfurl that banner. It's too late.
Image: The National Post