Carbon Tax Carney’s Investment Firm Wants Trudeau To Give Them $10 Billion In Taxpayer Money Days After His Appointment

September 18, 2024
FOR IMMEDIATE RELEASE

Ottawa, ON – After nine years, Justin Trudeau is not worth the cost. Instead of calling a carbon tax election where Canadians can vote for a government that will bring home lower prices, Trudeau decided to give Carbon Tax Carney sweeping power over Canada’s economy, while shielding him from having to declare his massive conflicts of interest.

Just days after Trudeau appointed Carbon Tax Carney to this senior position, the conflicts of interest are already evident. Last night, The Logic reported that Carney’s investment firm, Brookfield, is seeking billions from taxpayers and Canadian pension funds:

“Toronto-based investment giant Brookfield is in discussions to raise a new $50-billion fund, and is seeking backing from some of Canada’s largest pension funds and the federal government, The Logic has learned. Brookfield, which would administer the fund, is looking for $36 billion in commitments from a group of pension funds and $10 billion from Ottawa, according to two sources with direct knowledge of the proposal. Brookfield itself would contribute $4 billion, said the sources, whom The Logic agreed not to name because of the sensitivity of the discussions.” 

This means that while Carney is advising Justin Trudeau on economic policy, he is simultaneously chairman of Brookfield, which is asking for $10 billion in funds from taxpayers. When Minister Freeland was asked to confirm this story, her office simply refused to comment, instead of denying the story outright.

It is unacceptable that Carbon Tax Carney has been given the power by Trudeau to offer him advice on this request. Brookfield’s 2023 financial report shows that Carney holds $1 million in stock options in their firm. If Trudeau were to grant Brookfield’s request, how much would Mark Carney stand to personally profit?

On top of this, the Financial Post reported that Brookfield immediately began lobbying the government for this money after Freeland created a task force in last spring’s budget to redirect Canadian pension fund investments, led by Carney’s former colleague. But we don’t know Carney’s personal efforts in pushing this through as he refused to register as a lobbyist.

Justin Trudeau protected Carbon Tax Carney by appointing him to a position where he does not have to declare his conflicts of interest. And every day, new questions emerge. Earlier this week, Carney’s close friend, who serves as the CEO of Telesat, received $2.14 billion in taxpayer loans to build a broadband network that other firms could have delivered for taxpayers at half the cost. But despite Carney’s glaring conflict of interests, both the NDP and the Liberals decided to protect him from answering questions at a House of Commons’ Committee yesterday.  

Life for working Canadians has never been so hard. Food costs $700 more than it did last year, while millions of Canadians are lining up outside food banks. But for well-connected Liberals like Carbon Tax Carney, life has never been so good. Only Common Sense Conservatives will end the conflicts of interest and bring home lower prices for Canadians.