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This is why Carney is so hostile and defensive when asked about his conflicts of interest
Mar 19, 2025
We're here again today because Mark Carney refuses to disclose his assets and his conflicts of interest. He doesn't understand why the media and why the opposition keep asking questions. Now every time he's asked about his connections to Brookfield Asset Management or his conflicts, he becomes defensive, he deflects, and then he attacks. ... Why won't Carney share his supposed conflict of interest plan with Canadians so that they can see for themselves? Brookfield investments touch on huge areas of public policy, energy policy, environmental policy, industrial policy, taxation policy and infrastructure policy.
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good morning we're here again today
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because Mark Carney refuses to disclose
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his assets and his conflicts of interest
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he doesn't understand why the media and
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why the opposition keep asking questions
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now every time he's asked about his his
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connections to Brookfield asset
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management or his conflicts he becomes
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defensive he deflects and then he
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attacks remember what he told all of you
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and all Canadians after the Liberals
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English language leaders debate in
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Montreal he said quote I do not have a
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connection with Brookfield Asset
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Management end quote now I'm sure each
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and every one of you saw his exchange
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with reporters in London yesterday now
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did that sound to you like someone who
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didn't have any connections to
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Brookfield and recall what his office
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said last week
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quote despite repeated attempts carne
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transition team have declined to clarify
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if the new prime minister still
1:03
possesses any Financial interests in
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Brookfield end quote so apparently Mark
1:09
Carney doesn't think that Canadians
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deserve to know before they vote and
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apparently he thinks answering questions
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on this subject is beneath him when he
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was asked about moving his Brookfield
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headquarters to America from Canada he
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lied when he's asked about his assets he
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says he doesn't have any conflicts and
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he attacks the motives of the ones who
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are asking the questions but this really
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isn't about his style of answering
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questions that are put to him by the
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media the question is why is he so
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defensive when he's asked we know from
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media reports that Mark Carney was very
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likely owed future bonus payments from
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the multi-billion dollar Brookfield
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funds that he personally set up and that
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he managed and these bonus payments are
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directly tied to the performance of
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Investments that he made at Brookfield
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so what else do we know about the
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specific Brookfield funds set up by
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Carney now while Brookfield doesn't
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provide a full list of projects and
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companies they are invested in we know
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they've invested billions into solar
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panels wind turbines infrastructure heat
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pumps alternative fuels and countless
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other sectors associated with the
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so-called green transition but also
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important is the question of which
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companies and industries did Brookfield
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and Carney bet against wanting certain
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sectors to succeed over others and
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perhaps most importantly which countries
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did Brookfield and Carney bet on and
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which did they bet
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against Brookfield is not the most
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transparent company but they are
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slightly more transparent than Carney is
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personally and through their public
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filings we have some hints Mark Carney
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was appointed chair in the latter half
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of 2020 using the most recently
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available data for 2021 2023 we can see
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that brookfields reported Assets in the
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United States increased by
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23% and in Canada
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declined by 4% that's right just as
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Carney moved his headquarters to America
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while while he was chair Brookfield was
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investing more in the United States and
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they were pulling back in Canada for
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years perhaps this is one of the reasons
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that Carney is so hostile when he's
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asked questions we also know that Mark
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Carney handed over what he called a
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quote full and robust conflict of
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interest management plan end quote to
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the ethics commissioner last week and
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yesterday he bluntly denied having any
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conflicts of interest so how can
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somebody claim to have no conflicts when
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just last week he told the commissioner
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he has so many conflicts that he needs a
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full and robust plan to manage them all
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why won't Carney share his supposed
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conflict of interest plan with Canadians
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so that they can see for
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themselves Brookfield Investments touch
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on huge areas of public policy energy
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policy Environmental Policy industrial
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policy taxation policy and
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infrastructure policy now I could go on
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and on it was Carney planning on
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recusing himself from government
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discussions and decisions in those areas
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now some of you might recall Nigel
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Wright was hired as Steven Harper's
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Chief of Staff 15 years ago because of
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Mr Wright's prior private sector work he
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had to recuse himself leaving the room
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entirely when certain files came
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up will Mark carne be doing the
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same why won't he answer now Mr Wright
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was a staffer carrying out the direction
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of elected officials Carney as prime
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minister well he's the chief
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decider this so-called blind Trust of
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his it doesn't protect him why because
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these aren't stocks or ETFs like normal
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Canadians have that a trustee can buy
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and sell freely now he raised the money
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from International billionaires and the
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Investments he knows exactly what is in
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there and those Brookfield funds are
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locked in with longterm contracts the
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only people blind to carne's assets and
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conflicts are Canadians because he
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refuses to tell them the truth Mark
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Carney is twisting himself into a
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pretzel trying to hide his assets and
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conflicts from Canadians avoiding
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answering
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questions now I'm not sure exactly how
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much attention mark Carney has been
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paying to Canadian politics over the
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last decade but conflict of interest
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it's a serious thing the Carney Trudeau
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liberals have been repeated violators of
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conflict of interest laws Justin Trudeau
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twice himself if Mark carne is going to
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go to Canadian voters and ask for a
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fourth liberal term he needs to be
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transparent and he could do that today
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we're calling on Mark Carney to
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immediately disclose all of the assets
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that he put into to his blind trust and
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releasing his quote full and robust
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conflict of interest management plan end
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quote if Carney has nothing to hide he
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should have no problem doing so we know
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that he has them on file get it done
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today and with that I'll take your
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questions what is your what is your
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party's relationship with the provincial
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counterparty like what is the uh Federal
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conservatives relationship with Doug
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Ford's Progressive conservatives is it a
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good relationship
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you know we have a working relationship
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with anyone who shares our priority to
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uh put Canada first the plan that's been
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laid out by Mr PV um with respect to
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provincial jurisdiction breaking down
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interprovincial trade barriers any of
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the premieres who are prepared to work
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collaboratively with us on that um we'll
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find a great partner in in conservatives
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the same is true with uh Mayors for for
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cities who are prepared to get rid of uh
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the red tape and bureaucracy that's
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driving us up uh development charges
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driving up the prices of homes so we're
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ready to work in in good faith with
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Partners across Canada who are ready
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after nine years of these uh carne trudo
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liberals to to put Canadians first
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conflict of interest what are
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specifically the conflict of interest
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that you were worried about and how
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would that impact Canadians so things
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like the carried interest funds that
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will'll see payments made to Mr Carney
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based on the performance of these funds
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are something that should concern all
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Canadians Mr Carney built These funds he
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was the one who went out and and
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solicited the Investments for it and so
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these aren't something that once in a
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blind trust though the trust is being
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managed by someone else who is managing
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it we don't know but though it's being
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managed by by someone else they can't
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simply just uh sell these assets as they
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would in in a regular stock portfolio
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these are locked in with long-term
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contracts so Canadians need to know what
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is the the benefit that that Mr Carney
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stands to to gain from funds uh like
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like those which one are you concerned
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about well we've we've listed the the
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three funds that Mr Carney has these
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Global transition funds one and two the
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catalytic fund these are ones built by
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Mr Carney and he knows what's in them
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and all of these funds uh touch on areas
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that are regulated federally or will be
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impacted by decisions that he can take
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so the question is is Mr Carney going to
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recuse himself is he going to absent
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himself from discussions and decisions
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anytime these issues are are raised uh
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and and what's more is he is he prepared
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to properly divest them because simply
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placing them into a uh into a blind
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trust as some people have pointed out is
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more of a venetian blind because uh
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because he's able to see
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in there's a process under way with the
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conflict of interest and ethics
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commissioner's office and it's their
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responsibility at this point as I
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understand it to take the that Mr Carney
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has given them and then to provide him
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with advice does he need to recuse
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himself what does he need to disclose to
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Canadians what does he need to divest do
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you have faith in that office and its
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ability to do its job so the problem
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that we have right now is that while
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that advice is uh is um being developed
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is we have um we have Mr Carney who's
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taking International meetings setting a
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national policy and making decisions um
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signing orders as as with his black
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Sharpie as as we saw the the other day
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and what is the impact on his personal
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wealth his personal Investments as a
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result of that are we simply to be
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satisfied as Canadians that someone can
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be the prime minister of this country um
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and be the the uh only uh public
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official the only public office holder
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in Canada who doesn't have that public
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disclosure not only is Mr Carney the
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Prime Minister he is currently the least
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transparent public office holder in
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Canada simply saying that well there's a
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60-day timeline he had the opportunity
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at the outset of the uh of the process
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when he was seeking to become the leader
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of the liberal party where he could have
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disclosed this information to Canadians
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why is it that he must wait for the the
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maximum amount of time that's
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statutorily allowed to him why won't he
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simply be transparent with Canadians and
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provide them with the confidence that
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their prime minister is acting in the
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best interest of Canada and not his own
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best interest and what's the evidence
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that Mr Carney will put his own profits
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ahead of Canadians well just take a look
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at his decision when he had the
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opportunity to send a message as the
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chair of Brookfield Asset Management to
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keep its headquarters in Canada to keep
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it proudly Canadian and what did he do
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as he noted in his letter to
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shareholders in the interest of higher
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profits for himself for his board and
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for their shareholders he moved it to
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Donald Trump's Hometown in New York City
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and he sent that letter urging all of
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the shareholders to ratify the unanimous
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decision of his Board of which he was
11:34
chair in order to ensure their profits
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when did that letter get sent within a
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week within a week of Donald Trump
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saying that he was going to attack
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Canada with unjust and unjustified
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tariffs were youed to see his Sni were
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you surprised to see his snipp yesterday
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you know I the the uh way in which Mr
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Carney answers the questions uh as
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objectionable as as it might be isn't
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the isn't the Paramount issue it's the
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fact that he's refusing it it's he's
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distracting from the real problem here
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and that's the lack of transparency the
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lack of transpar transparency from
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someone who when pressed by media and
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one of his few few times that he's taken
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questions uh from the media since he uh
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entered elected politics or or running
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for public office and he lied he lied
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about his role at Brookfield and so not
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only can we not simply take him at his
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word we now need to question what his
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motives are and you know and and if you
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look at what he said uh on on Friday
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here in this building when he said that
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uh they were going to eliminate the
12:44
carbon tax and then yesterday he says
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that's what he says here in Canada and
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then yesterday he's he's in Europe and
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he says uh we need to have a carbon tax
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in place in order to to trade with other
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countries which is which is simply not
12:57
simply which is simp which is simply not
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which which is simply not true okay he
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had days to disclose the information to
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the ethics commissioner which he's done
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so I'm wondering like speaking rules
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wise is it the rules that you want to
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change since he's officially abided by
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them yes so we've said that the rules
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absolutely need to change we couldn't
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have imagined a scenario when
13:19
conservatives put in place this conflict
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of interest regime following what was
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then the uh most corrupt government that
13:25
Canada had seen with the cretan Martin
13:28
liberals well we've now emerged from
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nine years of the carne Trudeau liberals
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and we see a series of ethical
13:34
lawbreaking and Scandals that have have
13:37
really tested and challenged the laws as
13:39
they exist so yes the laws need to be
13:41
updated but what but well of course that
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this is something that that reporting
13:45
timeline would need to change it would
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be required for uh leaders who are
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running uh people who are running for
13:51
the leadership of these parties but it
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begs the question why do we have to
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appeal to the lowest denominator why is
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it that Mark Carney isn't simply willing
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to just be transparent with Canadians he
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knows today what those conflicts are he
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knows what is in that robust plan why
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not simply take the information that is
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going to be disclosed like it is for all
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public office holders you can take a
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look at any public office holder in the
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dis you can
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take you can you can take commissioner
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has well a couple of things first of all
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I can tell you before I file my
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disclosure based on reading the rules
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exactly what's going to appear in the
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public registry so it's it's black and
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white it's not a discretionary matter
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there's there's things that will be
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publicly disclosed and things that won't
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be there's also things that are that are
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uh conflicts of interest that will
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present and uh whether or not you need
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to recuse yourself from from those
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decisions might be a Precision that you
14:52
need to discuss with the ethics
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commissioner but look this is the prime
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minister of Canada how is it that he's
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expected to lead discussions to take
15:01
decisions to to chair the the cabinet in
15:04
this country and he's got to leave the
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room when anything on taxation anything
15:08
on Transportation anything on energy on
15:10
Green Technology is discussed in the
15:12
room because that's what's invested in
15:14
these funds that he's going to be
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effectively taking a commission on
15:18
getting getting payments on when based
15:20
on the the performance of those funds so
15:23
why doesn't he simply just tell
15:25
Canadians what he stands to gain from
15:27
those funds it's it's basic transparency
15:30
so every other public official can tell
15:32
you what appears in their uh what
15:35
appears in in their disclosure and you
15:36
can go and you can look online but we
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also know through a very basic reading
15:40
of the rules um what is going to be
15:42
publicly disclosed disclose that but
15:44
also what his plan is so do we have why
15:46
is it that we have to wait uh the 60
15:49
days to read it because what's going to
15:50
happen in that time there's going to be
15:52
an election and in the meantime Mr
15:54
Carney continues to take decisions he
15:56
continues to set policy for this country
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and even projecting into the future
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after the election it's basic
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transparency it's incumbent on a prime
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minister and he should he should do that
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especially when he's leading a party
16:09
that includes a cabinet who have members
16:11
who have been found guilty of breaking
16:13
the very law that he claims to hold so
16:15
important that he's going to appeal only
16:18
and meet only the minimum standard
16:20
Canadians expect more than the minimum
16:21
standard from a prime minister Mr Carney
16:23
should do better I still don't
16:25
understand what he think he's going to
16:26
do if he has those conflicts of interest
16:28
for example yesterday said that
16:33
usology what details whaty how much is
16:37
that going to cost to the effect of
16:39
industrial uh carbon tax plus it's not a
16:42
policy so how do we what details do you
16:45
have on this yeah I I think that Mr uh
16:48
pv's announcement yesterday stands uh
16:50
stands for itself I know he took
16:52
questions on it you can expect in the
16:54
next week that um we uh we expect that
16:57
we'll be into an election and uh and
16:59
there'll be uh detailed policies
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including on uh on uh on our
17:05
environmental plans um we've talked in
17:07
the past about making sure that we
17:09
invest in in nuclear technology we've
17:11
talked in the past about making sure
17:13
that when it comes to actual emissions
17:16
that we're displacing Global greenhouse
17:18
gas emissions um punching above our
17:20
weight as Canada has been able to do in
17:22
so many other areas but by exporting our
17:25
clean and ethical natural gas our clean
17:28
and ethical oil to other markets than
17:31
the United States in addition to uh to
17:33
that trading relationship look we've had
17:35
the opportunity in the past had we as a
17:37
country um built the capacity uh the the
17:40
ability to export natural gas on our
17:44
West Coast and on our East Coast we
17:46
could have displaced dirty oil unethical
17:49
uh natural resource products from other
17:52
countries you look at the deal that the
17:54
US just struck with Japan you look at
17:56
our allies in Eastern Europe who are um
17:59
who are forced to use the uh the natural
18:02
gas from uh from Vladimir Putin while he
18:04
wages in illegal invasions um how much
18:07
uh could we do to displace Global
18:10
emissions with our clean natural
18:13
resources from this country and what
18:15
could we do for uh to build on
18:17
International uh friendships and
18:19
Partnerships and other trading
18:20
relationships um by by making those
18:22
products available so there's a lot for
18:24
us uh to to do there's there's much that
18:27
hasn't been done under the 9 years of of
18:29
the Cy Trudeau liberals but we look
18:31
forward to to giving you more
18:33
information we expect in the next week
18:34
thanks so much for your questions today
18:36
thank you very on the industrial tax
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