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Bill Morneau to offer explanation amid conflict of interest allegations

Click to play video: 'Bill Morneau defends small business tax changes' Bill Morneau defends small business tax changes
Finance Minister Bill Morneau says that the Liberal Party is fulfilling a campaign promise to lower small business taxes and closing loopholes – Oct 18, 2017

OTTAWA — Federal Finance Minister Bill Morneau says he will have more to announce later today amid accusations he’s been in a conflict of interest related to his substantial personal assets.

Morneau is continuing to deflect questions today as ethical questions are piling up related to his failure to place his personal assets in a blind trust after being appointed to cabinet almost two years ago.

READ MORE: Federal government eases up on some small business tax changes

The former businessman says he made sure to disclose all his assets to the federal ethics watchdog when he came into office and he insists he’s followed her advice very carefully.

The allegations this week have drowned out Morneau’s ability to address another, earlier controversy over the government’s tax-reform proposals.

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READ MORE: Liberals to trim small business tax rate to 9% by 2019

Morneau will return to the House of Commons today after spending the week making announcements to scale back some of the proposals, which have angered small business owners, doctors, farmers and even Liberal backbench MPs.

He says today he will no longer move forward with the proposal to related to the conversion of income into capital gains after hearing to concerns from farmers and fishers.

 

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