Conservative MPs attack Carney for his work at Brookfield. They also invested in its companies

Six Conservative MPs, including the party’s deputy leader, made headlines last year for their personal investments in companies linked to Brookfield Corp., despite their criticism of Liberal Leader Mark Carney’s ties to the corporation. Deputy leader Melissa Lantsman revealed in 2024 that she held shares in Brookfield Renewable Partners L.P., a company based in Bermuda known for its investments in renewable energy assets.

Brookfield Renewable Partners L.P. reported record-breaking financial results in its annual report, showcasing its success in the renewable energy sector. Interestingly, Lantsman was vocal in her criticism of Carney and offshore tax havens during the early stages of the campaign, accusing him of prioritizing personal profits over the interests of Canadians.

Carney, a former governor of central banks in Canada and the UK, defended his involvement with Brookfield, emphasizing that the company adheres to all tax regulations in the countries where it operates. He explained that registering certain funds in Bermuda was for efficiency purposes rather than tax avoidance.

In addition to Lantsman, five other Conservative MPs disclosed their investments in Brookfield or its affiliates. Scott Reid, one of the MPs, emphasized the transparency of his investments by publicly sharing information about his holdings, including stocks in Brookfield Corp. and Brookfield Infrastructure Partners L.P.

Conservative Leader Pierre Poilievre criticized Carney for not disclosing his current investments and tax payments, despite Carney’s assurance that his assets are in a blind trust and that he pays taxes in Canada. Poilievre’s party also faced scrutiny for investing in Vanguard FTSE Canada Index ETF, which includes holdings in companies related to Brookfield.

Political science professor Lori Turnbull pointed out the hypocrisy of the Conservatives’ attacks on Carney while investing in Brookfield companies themselves. She suggested that continuing to target Carney on this issue could backfire for the Conservatives, as it may make them appear hypocritical.

A spokesperson for the Conservative Party defended their MPs’ investments in Brookfield-related companies, stating that they have disclosed their financial interests and do not have the same level of involvement in Brookfield’s operations as Carney. The spokesperson called on Carney to disclose his assets and conflict of interest plan to the public.

As the election campaign unfolds, the controversy surrounding Conservative MPs’ investments in Brookfield continues to raise questions about transparency and accountability. It remains to be seen how this issue will impact the election outcome.