Prime Minister Mark Carney and other Canadian prime ministers should be required to divest their investment portfolios when they assume office, not just put them in a blind trust, the House of Commons ethics committee recommends in a new report.
In its report made public Thursday morning, the committee said putting assets in a blind trust isn’t good enough, recommending instead “that the Government of Canada amend the Conflict of Interest Act that, for the application of subsection 27(1) the prime minister, as a reporting public office holder, is fully divested from their controlled assets through sale, since placement in a blind trust does not constitute true divestment.”
The committee also wants the law amended to require public disclosure of “high-level holdings categories placed in a blind trust by reporting public office holders (sector/asset class, and whether the holdings are Canadian-market concentrated),” a recommendation that could shed new light on the financial interests of a number of top officials and cabinet ministers.
Business people in public office is not a bad thing on its own. It is good to have people that understand how to grow a business and manage it. A CEO has executive experience running a large company, that is great experience for being prime minister. There are just as many corrupt people in charity/non-profit world as business. Neither is morally virtuous or immoral.
Often business people sell off their investments when they take office, either forced by law or do so voluntarily. Carney hasn’t sold anything, just put it all in a blind trust. I have zero faith in that. He is still having private meetings with top executives from Brookfield and he knows Brookfield’s holdings, so he can put public money toward projects that will personally benefit him. Ex: wind turbines, solar panels, heat pumps etc. Brookfield is heavily invested in these.