in World News Carney’s Brookfield has another company registered in tax haven Bermuda
by Quinn Patrick, True North
More businesses tied to Mark Carney’s ex-investment firm Brookfield Asset Management have been discovered in Bermuda, with the latest being registered to an address that also houses a bicycle shop.
More businesses tied to Liberal leader Mark Carney’s ex-investment firm Brookfield Asset Management have been discovered in Bermuda, with the latest being registered to an address that also houses a local bicycle shop.
First reported by CTV News, the latest entity indicates a pattern for Brookfield, the company that Carney chaired from 2022 up until entering the Liberal leadership race, of maintaining a cozy relationship with the tax haven.
The country is well-known to the ultra-rich as one of the world’s best tax havens. The country offers major tax breaks, including a zero corporate income tax rate up until last year.
News of Carney’s decision to invest billions of dollars into offshore bank accounts in Bermuda on behalf of Brookfield first came to light last week when it was discovered that two of Brookfield’s pension funds, worth a combined $25 billion, were registered there.
When asked why he chose not to keep these investments in Canada by a reporter, Carney responded by saying that he “understands how the world works” and is well-versed in global finance.
The Conservatives have been hammering Carney to disclose his assets ahead of election day so that Canadians can have a better understanding of who they are voting for but he has repeatedly refused to do so.
Conservative leader Pierre Poilievre made his investments public last week despite not being legally required to do so by law and dared Carney to do the same.