These are the assets disclosed by Canada’s party leaders, and the rules that govern them
The upcoming election in Canada is not only centred on U.S. President Donald Trump’s threats and the country’s sovereignty, but also on the cost of living and the assets of political leaders. Liberal Leader Mark Carney’s past work in the private sector has come under scrutiny, particularly in relation to his publicly traded assets and the rules that govern them.
Carney has stated that he placed all of his publicly traded assets into a blind trust, relinquishing control over them while they are held there. He has also promised to abide by a conflict of interest screen to prevent any involvement in discussions or decisions related to companies like Brookfield Asset Management or Stripe, where he served on the board of directors. However, the specifics of what assets Carney placed in the blind trust remain undisclosed, pending the release of his financial disclosure by the ethics commissioner’s office.
Recent reports suggest that Carney held $6.8 million US worth of unexercised stock options in Brookfield Asset Management as of December 31, which have since decreased in value to approximately $4.8 million US. The Prime Minister’s Office has declined to reveal whether Carney exercised these stock options before transferring his assets to the blind trust or if they are currently held within it. Carney has only mentioned excluding cash, a cottage, and their family home from the blind trust.
The ethics rules governing the assets of federal politicians vary depending on their position. While the prime minister, cabinet ministers, and parliamentary secretaries are prohibited from owning controlled assets that could be influenced by government decisions, opposition party leaders are subject to different guidelines under the Conflict of Interest Code. Party leaders who are not members of Parliament, like Green Party co-leader Jonathan Pedneault or People’s Party of Canada Leader Maxime Bernier, are not required to disclose their personal financial information.
Conservative Leader Pierre Poilievre’s financial disclosure revealed investments in international exchange-traded funds, which were sold and replaced with Canadian investments following President Trump’s threats against Canada. Poilievre’s assets also include real estate rental income and a mortgage with Scotiabank. New Democratic Party Leader Jagmeet Singh and Bloc Québécois Leader Yves-François Blanchet do not have publicly traded assets listed in their financial disclosures, while Green Party Co-leader Elizabeth May acts as a guarantor for her husband’s mortgage.
As the election approaches, the transparency and integrity of political leaders’ assets have become a focal point for voters. The adherence to ethical guidelines and the management of financial interests will undoubtedly play a significant role in shaping the outcome of the election and the future of Canada’s leadership.
