Carney's ethics filing details Brookfield conflict of interest screen
The disclosure states that Carney and the commissioner have agreed to a conflict of interest screen 'aimed at preventing any opportunity' to further Carney's interests 'or to improperly further those of Brookfield Asset Management, Brookfield Corporation, and Stripe Inc., and any company owned or controlled by them.'
Carney worked for Brookfield Asset Management before he decided to run for the Liberal leadership in January.
The screen is administered by Marc-André Blanchard, Carney's chief of staff, and Privy Council Clerk Michael Sabia. They're tasked with ensuring Carney is not made aware of and does not participate in 'any official matters or decision-making processes involving' Brookfield and Stripe, the disclosure said.
Story continues below advertisement
'This screen will prevent me from giving preferential treatment to any of the companies while I exercise my official powers, duties, and functions as a reporting public office holder,' Carney said in the disclosure.
It also notes he can take part in discussions or decisions that affect the companies if they are 'a member of a broad class of persons.'
Get breaking National news
For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up
By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy
Former prime minister Justin Trudeau also had a conflict of interest screen in place while he was in office, as did several members of his cabinet.
1:44
Conservatives accuse Mark Carney of hiding financial interests, demand transparency
When Carney was sworn in as prime minister in March, he was required to file information about his assets and potential conflicts of interest with the commissioner's office.
The law gave him 60 days to disclose financial information to the ethics commissioner, and 120 days for that disclosure to become public.
Story continues below advertisement
The law also holds that the prime minister, cabinet ministers and parliamentary secretaries must divest controlled assets by selling them at arm's length or putting them in a blind trust.
In a statement, a spokesperson for the Prime Minister's Office said Carney worked with the commissioner to 'exceed' the ethics rules by creating the blind trust days before he was sworn in as prime minister in March.
'All of his investments were placed in the blind trust and all investment decisions are taken independently from him,' said Emily Williams.
The Conservatives attacked Carney from the time he announced his run for the Liberal leadership, calling him 'sneaky' and claiming he was exploiting a loophole in the laws by not disclosing his assets as soon as he became a candidate.
The Tories also had demanded that Carney release a full list of all his assets and any potential conflicts of interest, beyond the disclosure to the ethics commissioner's office.
The ethics commissioner's office has released a list of shares Carney owned before creating the blind trust. They included shares in a number of companies, including Stripe, as well as options and deferred shares in Brookfield Corporation and Brookfield Asset Management.
He also owned shares in more than 560 companies through 'an investment account managed by a third party in respect of which the prime minister did not control or direct the selection of investments,' the disclosure said.
Story continues below advertisement
That 15-page list includes big-name American companies such as Tesla, Google's parent company Alphabet, Philip Morris International, defence giant Lockheed Martin, Boeing, Walmart and Fox.
It also includes major Canadian corporations like Lululemon Athletica, Canadian Natural Resources and Canadian Pacific Kansas City.
The disclosure does not state the value of any of Carney's holdings at the time the blind trust was created.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Calgary Herald
12 minutes ago
- Calgary Herald
Bell: Doug Ford tells Conservatives — avoid the 'hardcore right', that's not Canada
Couldn't resist the question when the guy is sitting next to you and Ontario Premier Doug Ford didn't shy away from answering it. Article content What does Ford, leader of his province's Progressive Conservatives, think the federal Conservatives could do to win over more Canadians, a few more Canadians? Article content Article content After all, many Conservatives are down in the dumps or just plain angry over losing the last election. Article content Article content Ford and federal Conservative leader Pierre Poilievre are far from being political soulmates. Article content Article content Federal Conservatives were unhappy with Ford during the election campaign. Article content Ford's former campaign manager publicly raked the federal Conservative campaign over the coals and Ford said: 'Sometimes the truth hurts.' Article content 'First of all, our family has always been staunch conservatives. We joke around. When we were all born, my four siblings, we had a 'C' stamped on our forehead. We've never voted anything but Conservative,' says the Ontario premier. Article content Then the advice. Conservative party members will vote in January on whether Poilievre stays on as leader. Article content 'It can't be one extreme or the other extreme. You can't be far left or hardcore right,' says Ford. Article content 'I would always promote being a fiscal conservative but you've got to have a social heart too. You can't be hardcore right. That's not Canada, hardcore right. Article content Article content 'And you can't just govern based on your personal beliefs. You have to govern based on what the people want. That's how you get elected. You can't be radical left or radical right.' Article content In Ford's view, what do the people want? Article content 'Everyone agrees we've got to be prudent fiscal managers because, if we're prudent fiscal managers, all of that money we're saving or creating we invest it into health care, into education, into infrastructure. People want to make sure we have enough money to take care of health care, social services and other areas.' Article content Of course, Ford is mentioning some areas where the provincial governments play a big part but you get the picture. Article content
Global News
42 minutes ago
- Global News
Council unanimously supports zoning change at former CBC property despite concerns
A change to the zoning at the former CBC property along Memorial Drive was unanimously approved by Calgary city council on Wednesday, despite concerns from nearby residents over soil contamination. The decision follows a more than two-hour public hearing late Tuesday evening that saw debate carry into the spillover session on Wednesday afternoon. The site, at 1706 Westmount Blvd. N.W., was the former home of the CBC for 50 years but was purchased by Anthem Properties in 2016 and has sat vacant since. Originally set to be a townhouse complex, Anthem Properties is proposing three multi-residential buildings ranging from four to six storeys and close to 270 units. While those opposed to the development argued there would be impacts to street parking, traffic and shadowing, one of the main concerns brought to council was around creosote contamination. Story continues below advertisement The concern amongst some residents was development of a partially-underground parkade on the site would disturb the toxic chemical. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy 'The human health risk assessments that were done back in 2022 didn't consider the pathways of exposure which this development may cause,' said Jim Stirling, a retired petroleum engineer who spoke on behalf of residents in West Hillhurst. Creosote was discovered under the northwest Calgary community after seeping under the Bow River from a former wood treatment plant that operated for nearly 40 years on the west end of the city's downtown. According to a five-year monitoring program from the province, there are no concerns to human health when compared to human health guidelines. A containment wall and groundwater collection system was built on the south bank of the Bow River in 1995 to prevent further seepage, according to the province, and its been under the City of Calgary's management since 1997 with ongoing monitoring since 2004. Anthem said it has a risk management plan that has been approved by the Government of Alberta, and the creosote is seven metres below ground within the bedrock. 'The risk management plan really outlines a number of exposure control methods, monitoring, reporting protocols and will endure with the land,' said Rose-Mary Damiani with Anthem Properties. Story continues below advertisement 'So that does provide confidence for the community and some security around management of the site.' However, some city councillors felt the developer's plans to mitigate creosote risks were satisfactory to allow the zoning change. 'When it comes to things like this, I think there are different tolerances for risk and risk management and I can appreciate why members of the community might have absolutely zero risk tolerance,' Ward 3 Coun. Jasmine Mian said in her debate. 'I think we have good regulations set out to manage different concerns an it seems like all of those have been met.' Stirling noted he was 'flabbergasted' by council's decision after urging them to pause the process for further study. 'I'm not saying people were wrong in their assessments, what I'm saying is the public haven't yet had answers to legitimate questions because the process has been very deliberately steered towards getting development going here,' he said. A development permit for the site is still under review but if approved, the developer plans to start construction at the site next year.
Global News
an hour ago
- Global News
Tim Cartmell apologizes for missing Edmonton infill vote at city council
One week after Edmonton city councillor and mayoral candidate Tim Cartmell missed a vote that would have impacted how infill homes are built in the city, he's apologizing. 'People were counting on me to be there, and I wasn't there, I've let them down and I'm very sorry for that,' Cartmell said on Tuesday after returning from vacation. Council had been having a heated debate of whether to reduce the maximum allowable units per infill from eight down to six, after some residents expressed concerns with property values, not enough parking, predatory developers, quality of builds and housing affordability. The debate spilled over into several days and was going to be extended into the councillors scheduled summer break — something some councillors, including Cartmell, opposed. 1:38 Cartmell suggests moratorium on new infill development in Edmonton is needed 'We were anticipating this, I think as far back as the middle of May when our clerk's office started to check counsellor availability because of this and other time-sensitive items that needed to get through council,' said city councillor Jo-Anne Wright. Story continues below advertisement Cartmell confirmed he was at the Calgary Stampede on July 3 and 4, but he did attend council meetings virtually those days. By last Monday's gathering, however, he was on a planned family vacation on Cape Breton Island in a remote location without internet, that he says he could not delay. But last Tuesday, by a close vote of six to five — council voted against reducing infill limits. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy Those in favour were Mayor Amarjeet Sohi, Councillors Aaron Paquette, Erin Rutherford, Anne Stevenson, Karen Tang, and Jo-Anne Wright. Councillors Michael Janz, Andrew Knack, Karen Principe, Jennifer Rice and Ashley Salvador voted in opposition. The two councillors absent were Sarah Hamilton and Tim Cartmell. They were both away on vacation. Cartmell said he put his family and marriage first. 'Sometimes you look at your partner, and you look in their eyes — and you know that sometimes you can't put them second again, that you can cancel again,' said Cartmell. 1:48 Public hearing on infill development in Edmonton comes to an end Wright didn't accept that reasoning. Story continues below advertisement 'I have a family as well, and I know that's important. I know time off is important. I guess it's just a matter of organisation, of those multiple priorities,' said Wright. Edmonton's mayor also weighted in. 'Anytime someone makes a decision not to show up to work, is the day they are not doing their job,' said Amarjeet Sohi. 'I am glad he recognized this was a mistake.' Tweet This Click to share quote on Twitter: "I am glad he recognized this was a mistake." 2:11 Tensions boil over at Edmonton City Hall during ongoing debate about infill development Cartmell said this vote result could change in the coming months. City council will be revisiting the conversation on maximum units for infill lots at some point, but that discussion won't come until public consultation is complete — with a deadline at the beginning of 2027. In the meantime, the next municipal election is in October and he is gunning for the mayor's chair. Story continues below advertisement 'No motion that has been made in the last couple of weeks that can't be rescinded and new motions made in place,' said Cartmell. 'We will get on the other side of this election and fix these things.' Tweet This Click to share quote on Twitter: "We will get on the other side of this election and fix these things." Last Monday, Cartmell's campaign released a video of him criticizing the process of the infill debate and councillors not respecting time off. 'Putting out that video statement on Monday, criticising the mayor and the rest of council the way the public hearing had been held. Nobody cares about the process. What they care about is the debate, and how councillors vote,' said Edmonton political analyst. John Brennan. Brennan said the way that this was handled was not good for Cartmell's campaign — but it could recover. 'I don't think it's irreparable. It certainly hurt him personally, it hurt his campaign, they wouldn't be going to the steps they did today — issuing an apology — if it hadn't,' Brennan said. Brennan said he's waiting on official polling to see how Edmonton voters truly feel about Cartmell missing the meeting. 2:06 Another group adding its voice to debate over infill development, housing density in Edmonton — With files from Jasmine King and Karen Bartko, Global News
