Conflicts of Interest and Foreign Ship-Contracting
July 2025
Conflicts of Interest and Foreign Ship-Contracting
Prime Minister Carney’s Ethics Disclosures
Recently, the Ethics Commissioner released details regarding Prime Minister Carney's financial interests. These disclosures outline a conflict-of-interest screen, requiring him to step away from decisions involving approximately 100 companies. Many of these same companies remain part of his investment portfolio, held within a "blind trust," and the disclosures also show 574 separate stock holdings.
During the election, Prime Minister Carney made several statements that appear to contradict these recent disclosures. For instance, he stated on March 26, 2025, in Windsor, ON, that he owned "nothing but cash and personal real estate." However, the disclosures indicate his ownership of 574 different stocks. Similarly, on March 14, 2025, he claimed he did not know what was in his blind trust, but the public release of the disclosures now provides that specific information. He also previously stated, "I do not have a connection with Brookfield Asset Management," yet the disclosures show his ownership of stock options and deferred share units of Brookfield Asset Management and Brookfield Corporation, along with holdings in the Brookfield Global Transition Fund I.
Furthermore, companies listed under his ethics screen have reportedly interacted with his office; for example, NorthRiver Midstream lobbied him on April 30th, and he met with Sam Pollack, CEO of Brookfield Infrastructure, on May 6th. Some of his election commitments also seem to align with significant Brookfield investments. At the leaders' debate, he praised Westinghouse, a nuclear firm he helped acquire while at Brookfield, and his housing plan promotes pre-fabricated homes, which could directly benefit companies like Modulaire. His AI policy also supports Compass Data Centers and Data4.
Conservatives call on Prime Minister Carney to sell his holdings, so that a trustee can invest the cash in a truly blind trust.
Canadians deserve a Prime Minister who can make decisions solely in the public interest, without the personal financial gain influencing policy. It is crucial that the Prime Minister address these disclosures and clarify how he plans to ensure complete public trust.
BC Ferries Purchasing Ships from China with $1B in Liberal Funding
The government recently announced a $1 billion low-interest loan to BC Ferries. This loan effectively subsidizes BC Ferries' purchase of new vessels from China Merchants Industry Weihai Shipyards, a foreign, state-owned enterprise, instead of supporting Canadian shipbuilders. This decision concerns many, especially since Weihai Shipyards openly identifies as "a key state-owned enterprise directly administered by the central government"—a government Prime Minister Carney himself has previously called "the biggest security threat to Canada."
This situation follows an investigation Conservatives launched into the government's financing of foreign ferries. On June 20th, Minister of Transport Chrystia Freeland expressed dismay at BC Ferries' choice to purchase from a company controlled by the Chinese Communist Party and stated that federal money should not fund these vessels. Yet, days later, the Liberals revealed they were providing this $1 billion loan, which includes an estimated $650 million in foregone interest. This is not an isolated incident; the Liberals previously provided $28 million to purchase Romanian-built ferries from a Dutch company.
Canadian workers stand ready to build the ships we need, but our industry struggles to compete with foreign state-backed shipbuilders that often operate with different standards for environmental protection, worker safety, and wages. Our government should never incentivize outsourcing Canadian jobs at the expense of our workers. Prime Minister Carney previously promised Canadians that federal infrastructure funding would 'Buy Canadian.' Building these ferries in Canada would generate much-needed demand for our steel and create good-paying jobs right here at home.
It is time for the government to cancel this loan and ensure that tax dollars prioritize our shipbuilders, workers, and industries.
In your service,
Tako van Popta
Member of Parliament
Langley – Aldergrove