Prime Minister Mark Carney and other Canadian prime ministers should be required to divest their investment portfolios when they assume office, not just put them in a blind trust, the House of Commons ethics committee recommends in a new report.

In its report made public Thursday morning, the committee said putting assets in a blind trust isn’t good enough, recommending instead "that the Government of Canada amend the Conflict of Interest Act that, for the application of subsection 27(1) the prime minister, as a reporting public office holder, is fully divested from their controlled assets through sale, since placement in a blind trust does not constitute true divestment."

The committee also wants the law amended to require public disclosure of "high-level holdings categories placed in a blind trust by reporting public office holders (sector/asset class, and whether the holdings are Canadian-market concentrated)," a recommendation that could shed new light on the financial interests of a number of top officials and cabinet ministers.

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[–] OrteilGenou@lemmy.world 7 points 5 days ago (16 children)

If you want successful people to hold office, you can't make them divest their portfolios and take capital gains tax hits that could ostensibly cost them more than their salary and pension combined.

I know I know "boo hoo rich people" but if you think that Mark Carney is a good PM, why would you then set up a pre-requisite that repels people like him from even considering taking the position?

[–] Phil_in_here@lemmy.ca 5 points 4 days ago (13 children)

I don't want "successful" people in office!

I want someone who has community building experience. Someone with non-profit experience. Someone with the interest of people not someone that has demonstrated a thorough understanding of how to acquire personal wealth.

We have financial and economic specialists to advise the PM, but we act like that's the only fucking metric we can weigh our worth on.

I want a PM that is grateful for the opportunity to help Canadians and is humbled by the $400 000 salary as compensation, not someone that sees it as a small asset to their inflating portfolio.

[–] thisorthatorwhatever@lemmy.world 2 points 4 days ago (2 children)

Can we go higher on the salary, sure. Let's make it $1milion a year.

But, who do we want running the country? I'd like someone with the guts to raise the salary, but also say that they'll willingly dis-invest and put their assets in a blind trust.

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