Report Reveals Moneybags’ Father Sold 200,000 Morneau Shepell Shares Before Tax Changes Announced

More questions for Moneybags.

Global News is reporting that they have “analyzed insider trading reports of the company and discovered that Morneau’s father sold a significant number of shares days before his son announced a major tax policy change.”

The report continues:

“Regulatory filings show that William F. Morneau Sr. sold 100,000 shares of Morneau Sheppell Inc. (MSI) at a price of $15.20 per share on Nov. 23, 2015, and sold another 100,000 shares on Dec 3, 2015, at a price of $15 a share. On Dec. 7, 2015, Morneau, the finance minister, tabled documents in the House of Commons which  announced his government’s intention to change tax rules that would increase taxes on wealthy Canadians as of Jan. 1. 2016.

In the days following the tax change, Morneau Shepell shares fell by 5.4%.

Apparently, neither Bill Morneau nor his father have responded to requests for comment on the sale of those 200,000 shares just days before the tax change announcement.

Morneau must go

Yesterday, Andrew Scheer called for Morneau’s resignation, and this new revelation will cause an even stronger demand for his ouster.

Everyday seems to bring a new instance of Morneau – or those connected to him – seeming to act in a way that reinforces Canadians worst fears of the elitists desire to use government to benefit their own interests at our expense.

Already facing an ethics investigation and repeated grillings in Question Period, Morneau will now have to answer (or more likely pathetically avoid) questions about his father and family business.

Only the most extreme partisan Liberals can now refuse to see that Morneau has totally overstayed his welcome, and has to go ASAP.

Read the full report on Morneau’s father’s stock sale.

Spencer Fernando

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Post updated to account for change in Global News report