Morneau at centre of fiery debate in Commons that leads to Tory MP's ejection

Morneau at centre of fiery debate in Commons that leads to Tory MP's ejection
From CBC - November 30, 2017

Finance Minister Bill Morneau found himself fending off fresh Opposition broadsides Thursday during another fiery question periodthis one so heated that one Conservative MP was booted from the House of Commons.

Morneau has been at the centre of an ethics controversy for weeks, and the latest questions were focused on new revelations his father sold off about $1.5 million shares in their family-built company right before the minister made a major 2015 tax-change announcement.

Opposition MPs say they believe the tax news led to a dip in the stock marketincluding the value of Morneau Shepell shares.

All week, the Conservatives and the New Democrats have been grilling the Liberals about Morneau's late-2015 sale of millions of dollars worth of his own shares in Morneau Shepell Inc.a transaction that took place days before the Dec. 7 announcement. They insist the early sale resulted in a savings of half a million dollars.

Opponents allege Morneau's 2015 tax news, which included the government's plan to raise income taxes on the highest earners, had a wide-reaching impact because it encouraged wealthier shareholders to sell off some their stock before the changes came into effect on Jan. 1, 2016.

On Thursday, the finance minister's political foes seized on new information about two large 2015 sales of Morneau Shepell stock100,000 shares eachmade by Morneau's father, William Morneau Sr., on Nov. 23 and Dec. 3.

Conservative MP Pierre Poilievre said the value of the shares fell five per cent in the days that followed, but not before "someone" got out.

"Correction, it was not just someonethere was someone else," Poilievre said, referring to the sale made by Morneau's father, who founded the company.

Morneau later told the House he did not know Poilievre "could sink any lower."

"I did not know that was possiblehe has actually taken efforts today to actually move from me to talk about my family," Morneau said in the House, where MPs enjoy the legal protections afforded by parliamentary privilege.

Tory MP tossed from House

Taking it outside the House


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