Saturday, June 20, 2026
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

Kelowna RCMP Community Safety Unit Seize Illicit Drugs And Stolen Property From Residence In Rutland

Kelowna RCMP Community Safety Unit Seize Illicit Drugs And Stolen Property From Residence In Rutland
The warrant was related to an active criminal investigation into suspected drug trafficking in the area.

Kelowna RCMP Community Safety Unit Seize Illicit Drugs And Stolen Property From Residence In Rutland

Mountie Lines Up Behind Prohibited Driver At West Kelowna Drive-Thru, Makes Arrest

A West Kelowna RCMP officer was waiting in line at the drive through of a local coffee shop just before 2:30 am on March 1st, 2020 when she discovered that the vehicle she was behind had been reported stolen on February 28th in Edmonton.

Mountie Lines Up Behind Prohibited Driver At West Kelowna Drive-Thru, Makes Arrest

It's Up To All Wet'suwet'en People To Work Through Agreement: Bellegarde

VANCOUVER - Assembly of First Nations National Chief Perry Bellegarde says it's up to all Wet'suwet'en people to work through the draft agreement struck on Sunday between their hereditary chiefs and senior Canadian officials.    

It's Up To All Wet'suwet'en People To Work Through Agreement: Bellegarde

Woman With Presumed Case Of COVID-19 In Critical Condition In B.C.

VICTORIA - A woman in her 80s with a presumptive case of the novel coronavirus is in critical condition at a Vancouver hospital.

Woman With Presumed Case Of COVID-19 In Critical Condition In B.C.

Blockade On CP Rail Tracks In Kahnawake Comes Down After More Than Three Weeks

KAHNAWAKE, Que. - A blockade in the Mohawk community of Kahnawake that has halted rail traffic south of Montreal for more than three weeks is being dismantled.

Blockade On CP Rail Tracks In Kahnawake Comes Down After More Than Three Weeks

Academics Say Indigenous Perspectives Still Lacking In Canadian STEM Studies

TORONTO - In order to learn about how Canada's Indigenous astronomers see the skies, Caroline Ormrod had to look overseas.    

Academics Say Indigenous Perspectives Still Lacking In Canadian STEM Studies