Close X
Monday, December 2, 2024
ADVT 
National

Bill Morneau leaves as suddenly as he arrived

Darpan News Desk The Canadian Press, 18 Aug, 2020 06:52 PM
  • Bill Morneau leaves as suddenly as he arrived

William Francis Morneau leaves federal politics as suddenly as he burst onto the Ottawa scene less than five years ago.

In November 2015, the newly elected Liberal member for Toronto Centre became the first rookie MP in nearly a century to step into the high-profile and demanding role of finance minister.

He set about implementing pillars of Prime Minister Justin Trudeau's economic platform, including tax cuts for the middle class, the new Canada Child Benefit and a revamped Canada Pension Plan.

Morneau brought ample experience as a business leader and volunteer to the role.

He took the reins of the family business from his father, growing human resources firm Morneau Shepell to 4,000 employees from just 200.

Morneau was also a keen supporter of the arts, and worked to help at-risk youth and ensure better access to health care and education. He also helped found a school for Somali and Sudanese girls at a United Nations High Commissioner for Refugees camp in northern Kenya.

In the rough-and-tumble world of parliamentary politics, the deliberate and thoughtful finance minister was forced to learn fast.

While still honing his political chops, he rarely seemed far from one controversy or another.

It would prompt the opposition to try to paint the wealthy former businessman as out of touch with the realities of ordinary Canadians.

Morneau's first budget projected years of big deficits despite Trudeau's 2015 election promise to keep annual shortfalls under $10 billion.

A contentious tax-reform plan released in 2017 led to an outcry from enraged business owners, doctors, tax experts and even backbenchers within his own Liberal caucus.

"I've learned from this experience that we have to be very good at communicating to Canadians what it is that we're trying to achieve," Morneau said at the time.

There were also questions that year about the minister's personal assets.

The federal ethics commissioner of the day fined Morneau $200 for failing to disclose his role as a director in a private corporation that owns a villa in France. Morneau had disclosed his ownership of the villa to Mary Dawson but, thanks to what his office called an administrative oversight, failed to mention the ownership structure itself.

Criticism intensified when word spread that he hadn't placed his Morneau Shepell holdings into a blind trust after being named to cabinet — a decision Morneau insisted was framed by Dawson's own advice.

In response to the controversy, Morneau sold off the remainder of his Morneau Shepell shares, which were worth about $21 million. He donated to charity the difference between what the shares were worth at the time of the sale and their value in 2015 when he was first elected — estimated at about $5 million — and promised to place his other assets in a blind trust.

In his final months as finance minister, Morneau oversaw massive spending to deal with economic and social fallout from the COVID-19 pandemic.

Morneau and Trudeau are both facing investigations by the new federal ethics watchdog, Mario Dion, for taking part in talks to hand WE Charity a contract to run a pandemic-related student-volunteer program.

One of Morneau's daughters works for the organization, another has spoken at its events and his wife, Nancy McCain, has donated $100,000. Morneau also revealed last month that he had repaid WE some $41,000 in expenses for trips he and his family took in 2017 to view two of its humanitarian projects in Ecuador and Kenya.

In stepping down, the 57-year-old Morneau signalled a need for a new finance minister to take up the challenge of navigating Canada's economy through the shoals of the pandemic.

"I will look forward to watching politics from the outside, and hopefully contributing in another way."

MORE National ARTICLES

Tam to young people: stop spreading COVID-19

Tam to young people: stop spreading COVID-19
Canada's chief public health officer Dr. Theresa Tam is doubling down on warnings to young Canadians to stop fuelling the spread of the novel coronavirus.

Tam to young people: stop spreading COVID-19

Ban on some conditional sentences tossed out

Ban on some conditional sentences tossed out
A law that bars a judge from imposing a conditional sentence for certain offences was struck down as unconstitutional on Friday in a decision likely to find its way to the country's top court.

Ban on some conditional sentences tossed out

Canfor earns $60.7M in Q2 on higher revenues

Canfor earns $60.7M in Q2 on higher revenues
Canfor Corp. says its results turned positive in the second quarter on a large reversal of a writedown in its lumber operations due to improved demand and prices towards the end of the quarter.

Canfor earns $60.7M in Q2 on higher revenues

Trump 'poisoned' case against Meng: documents

Trump 'poisoned' case against Meng: documents
New court documents accuse the United States president of "poisoning" the extradition case against a Huawei executive being held in Canada.

Trump 'poisoned' case against Meng: documents

Feds allocate $540 million towards transit funding for BC

Feds allocate $540 million towards transit funding for BC
Huge transit funding announcement for BC today. Federal Environment Minister Jonathan Wilkinson made a $540 million dollar announcement  Thursday morning. 

Feds allocate $540 million towards transit funding for BC

Girl, 6, dies after Montreal stabbing

Girl, 6, dies after Montreal stabbing
A six-year-old girl was stabbed in an east-end Montreal residence early Thursday morning and died of her injuries hours later in hospital, police said.

Girl, 6, dies after Montreal stabbing