Nov 27, 2017
By Michael Kramer
The Conservatives have opened up another frontal attack against Bill Morneau – accusing the embattled finance minister of selling off stock – the week before a policy announcement drove their value down by half a million dollars.
Inside the House of Commons today, Tory MPs fired a barrage of questions about the timing of the sale of $10 million worth of shares in his family-founded human resources firm, Morneau Shepell.
Conservative finance critic Pierre Poilievre says a motion introduced by Morneau in December 2015 – to raise income taxes on the highest earners – caused the entire stock market to drop – including Morneau Shepell’s share price.
Poilievre asked Morneau repeatedly if it was merely a coincidence – that the 680,000 shares were sold off – a week before the announcement.
Morneau largely avoided the queries, insisting he had absolutely nothing to hide – but a spokesman for the finance minister later called Poilievre’s insinuations “utterly false and absurd” – and challenged the Tories to make the accusations outside the House of Commons – where members are not protected by parliamentary privilege.