e-1332 (Conflicts of interest)

Petition to the Government of Canada

• The Minister of Finance until recently owned millions of dollars’ worth of shares in Morneau Shepell, a company founded by his father and of which he was an executive until elected and a firm with which the federal government does millions of dollars’ worth of business;
• The passage of government bills introduced by the Minister of Finance, such as C-27, which targets pensions and would make workers’ retirements less secure, would enrich the shareholders and managers of firms like Morneau Shepell, including, until recently, the Minister of Finance himself;
• Proposed changes to the tax code introduced by the Minister of Finance would incentivize small business owners to invest in private pension plans administered by private companies, and which would enrich the shareholders and managers of firms like Morneau Shepell, including, until recently, the Minister of Finance;
• Morneau Shepell will be handling the close-out of the Sears pension fund after an emergency debate in the House of Commons, on the subject of the company’s bankruptcy, was refused, which will financially benefit the shareholders of Morneau Shepell, including, until recently, the Minister of Finance; and
• The pattern of the Minister of Finance’s non-disclosure and retention of assets that could reasonably be seen to cause a conflict of interest has caused the Minister to lose the confidence of Canadians.