New PM Carney anticipating conflict-of-interest screen around Brookfield dealings
Prime Minister Mark Carney recently stated that he anticipates the government’s ethics commissioner will advise him to establish a screen around his previous business dealings to prevent any potential conflicts of interest. This issue has been a subject of scrutiny since Carney’s assets, now held in a blind trust, have raised questions about the possibility of controversy.
During a news conference in Iqaluit, Carney addressed these concerns and emphasized that he is committed to upholding the highest ethical standards. He acknowledged the ongoing discussions with the ethics commissioner regarding the implementation of screens around specific issues related to his past involvement in the private sector, including his role as the chair of the board at Brookfield Asset Management (BAM).
As per Brookfield’s financial filings, Carney held stock options worth $6.8 million as of December. He emphasized the importance of transparency and compliance with conflict-of-interest rules, highlighting the need to establish screens to avoid any conflicts that may arise.
Carney mentioned that similar screens were put in place for former prime ministers Justin Trudeau and Paul Martin, as well as several cabinet ministers. These screens are designed to prevent public office holders from participating in discussions or decisions that could potentially benefit their private interests or those of their associates.
Under the Conflict of Interest Act, screens are agreed upon by the public office holder and the Office of the Conflict of Interest and Ethics Commissioner to minimize the risk of conflicts between public duties and personal interests. These screens are made public and include details about the conflict of interest, individuals/entities involved, and the responsibilities of the screen administrator.
Following his appointment as Prime Minister, Carney placed his assets in a blind trust in adherence to government ethics regulations. Despite complying with the law, Carney’s swift transition from the private sector to the highest office in the country has faced criticism from the Conservative party.
Opposition ethics critic Michael Barrett called for more transparency regarding Carney’s assets before they were placed in the blind trust. He raised concerns about potential conflicts of interest and questioned the effectiveness of the ethics commissioner’s oversight in ensuring accountability.
In response to these criticisms, Carney reiterated his commitment to following the established rules and procedures set by Parliament and the ethics commissioner. He emphasized the importance of maintaining integrity and ethical standards in public office, highlighting the need for transparency and accountability in government decision-making processes.
