Bill Morneau’s talents were wasted in Justin Trudeau’s Ottawa
When Bill Morneau was named as Canada’s finance minister in 2015, former prime minister Jean Chrétien called to offer congratulations – and a warning.
Mr. Morneau never mastered this equilibrium during his frustrating five-year turn as Prime Minister Justin Trudeau’s top economic minister. By his own telling, his personal interaction with Mr. Trudeau was virtually non-existent. The two men rarely met. When they did, the PM was usually surrounded by advisers, precluding the opportunity for frank, one-on-one exchanges.
Mr. Morneau realized shortly after taking office that the 2015 Liberal vow to run “modest” deficits of about $10-billion was incompatible with the party’s election promises. Attempts to get the PMO to agree to hard debt and deficit budget targets were systematically denied. “Without a realistic revised deficit target, we were in effect flying by the seat of our pants,” he recounts.
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