Canada’s Finance Minister Bill Morneau resigns after clashing with PM Justin Trudeau
- Resignation came amid reports of policy clashes with Trudeau over the Canada’s ballooning deficit and a potentially damaging ethics investigation
- Morneau said he would seek to become the next secretary general of the Organisation for Economic Cooperation and Development
Canada’s finance minister announced his resignation Monday amid reports of differences with Prime Minister Justin Trudeau over government spending to protect the economy during the coronavirus pandemic.
Bill Morneau said he is leaving politics and has put his name forward as a candidate to lead the Organisation for Economic Cooperation and Development.
Trudeau thanked Morneau for his five years as finance minister and said in a statement that “Canada will vigorously support his bid to lead” the OECD.
“Under his leadership, Canada developed a strong economy with one of the best balance sheets in the G7, created over one million jobs, achieved the lowest unemployment rate in recorded history, lifted over one million people out of poverty, and created a coherent plan to protect the environment while growing the economy,” Trudeau said in a statement.
Morneau and Trudeau have reportedly butted heads amid spending to backstop the pandemic-hammered economy. Morneau said he was not asked to resign but added that he is no longer the appropriate the person for the job.
Recent news that Mark Carney, a former governor of both the Bank of Canada and Bank of England, was advising Trudeau during the pandemic fuelled speculation that Morneau might be replaced.