Prime Minister Mark Carney talks to reporters at Canada House in London on Monday, March 17, 2025. The Canadian Press
Prime Minister Mark Carney faced tough questions from reporters on Monday over his private assets and possible conflicts of interest. With a federal election only days away, journalists pressed him on whether he had placed his financial holdings in a blind trust, as required by law.
Carney met French President Emmanuel Macron in Paris earlier in the day before heading to the United Kingdom. In London, he held a press conference after meeting with King Charles III and British Prime Minister Kier Starmer.
Clashing With Reporters
During the press conference, Carney firmly stated that he was following all federal ethics rules. He emphasized that he placed his assets in a blind trust immediately after becoming prime minister.
“I follow the rules of the ethics commissioner. I’m following them well in advance of any of the requirements,” he said.
However, a reporter challenged him, pointing out that the law requires asset disclosures to be made public within 120 days. With the election just around the corner, Canadians still have no clarity on Carney’s potential conflicts of interest.
Carney dismissed the concern, saying he was fully compliant. When asked if he had any possible conflicts, he shot back, “What possible conflicts would you have? I’m complying with the rules.”
Carney Grows Frustrated
Another reporter questioned whether Carney’s long career in the private sector could create conflicts. Carney grew visibly annoyed and told the journalist, “Look inside yourself. You start from a prior of conflict and ill will.”
He defended his record, stating he had served both in the private sector and for Canada during times of crisis. He accused the reporters of “inventing new rules” and insisted he was abiding by the existing ones.
Concerns Over Carney’s Past Work
Carney previously worked for Brookfield Asset Management, where he led billions of dollars in net-zero investments. Reports revealed he might be entitled to massive bonuses, known as “carried interest,” once those funds reach maturity.
Despite repeated media requests, neither Carney’s transition team nor Brookfield has confirmed whether he still holds financial ties to the company through his blind trust.
The Office of the Conflict of Interest and Ethics Commissioner is in contact with Carney’s team but hasn’t shared details. The commissioner’s office stated that Carney has 120 days from his appointment to disclose his assets. If the process is completed sooner, the information will be published earlier.
Opposition Demands Transparency
The Conservative Party has called on Carney to sell or give up his financial assets, including any carried interest. Conservative MP Michael Barrett said Carney could easily clear up the matter by disclosing his financial information.
“If he has nothing to hide, then it’s very easy for him to come forward today,” Barrett said.
