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Drum-Beat for Sacking Finance Minister Morneau Grows Louder

CANADA
  • Leader of Bloc Quebecois said Wednesday he would seek to force an election unless FM Bill Morneau, PM Justin Trudeau and the PM's top aide resign following a canceled CAD900m charity contract that has led to conflict of interest allegations
  • The Bloc needs the support of two other opposition parties to force an election and the holdout is the NDP. Conservatives may support a non-confidence motion after their new leader takes over this month
  • Replacing Morneau would raise questions over managing Canada's record CAD343b deficit and how to wean millions from relief checks, manage potential corporate bailouts, risks in housing market as mortgage payment deferrals end this fall
  • Globe and Mail newspaper reported earlier this week Morneau's job is at risk, and several leading national columnists have said the same
  • Prime Minister's office put out a statement of full support for Morneau, but press reports suggest this is a pro forma exercise
  • Mark Carney has also started advising govt on fighting the pandemic, a sign Morneau's advice isn't getting top billing anymore
  • Morneau's standing declined amid reports he accepted money for travel from the WE charity before helping approve a contract for them; is now under an ethics investigation
  • Cabinet shuffles often happen just before the fall session of Parliament opens and involves several ministers to offer voters some renewal
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
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MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
Homepagemarkets-real-timePolitical RiskPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

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