Who's in line to replace Morneau as Trudeau's finance minister

Bill Morneau's resignation as finance minister opens the door to one of the most coveted seats at the Liberal government's cabinet table.

Morneau insisted on Monday he was not pushed out by Prime Minister Justin Trudeau, saying it was time for a new finance minister to carry Canada forward in the economic post-pandemic recovery.

But University of Toronto political scientist Nelson Wiseman said he sees Morneau as a "sacrificial lamb" in the ongoing WE Charity controversy engulfing the Liberal government.

"By firing Morneau, Trudeau is hoping to take the attention off himself," he said.

Morneau and Trudeau did not recuse themselves from cabinet talks on awarding the $900-million deal to run the summer program to WE Charity, even though they had family links to the organization.Morneau also revealed to the Commons finance committee in Julythat WE Charity had covered $41,000 in costs for trips he and hisfamily tookin 2017 to Ecuador and Kenya to view the organization's humanitarian work. He subsequently reimbursed the costs.

"I don't think his departure was a product of policy differences, although the prime minister's office would like to make it so appear," Wiseman said.

Wiseman said when the government announced last week that former Bank of Canada governor Mark Carney was "advising" Trudeau, that signalled that Morneau would soon be gone.

For his part, Morneausaid the timing of his resignation was tied to future opportunities and changing the reins for his department, and said he hopes to become thenext secretary general for the Organization for Economic Co-operation and Development (OECD).

So who might replace Morneau as Canada's next finance minister?

Chrystia Freeland

As Deputy Prime Minister and Intergovernmental Affairs Minister, Freeland is one of Trudeau's most trusted cabinet members.

The former financial journalist has also served as foreign affairs minister andminister of international trade, working to negotiate the revamped North American free trade agreement.

Penny Collenette, a University of Ottawa adjunct law professor and former senior Liberal staffer,notedFreeland would be the first woman finance minister, and is very "in sync" with the prime minister.

"Whomevertakes the position is going to have some very tough months, if not years, ahead of them," Collenette said.

Daniel Bland, a political scientist at McGilllUniversity and director of the McGill Institute for the Study of Canada, said Freelandappears to have the full confidence of Trudeau and is very effective in her current roles.

"But she is already dealing with many key files and her moving to Finance could create significant transition issues for the entire Trudeau government," he said.

Jean-YvesDuclos

Treasury Board PresidentDucloshas more academic credentials than Bay Street business experience, with a doctorate in economics from the London School of Economicsand Political Science.

Before entering politics, he worked as a professor at the University of Laval.

But Collenette saidDuclosshould be high on the list of contenders,calling him "dignified and unflappable."

Blandsaid Duclos is a "top-notch economist" who ishighly competent, but not someone who wouldcreate a "wow effect" like former Bank of Canada governor MarkCarney.

Mark Carney

Carneyfollowed up his stint at the Bank of Canada by becominggovernor of the Bank of England and hasmost recently been servingas the United Nations' special envoy on climate action and climate finance. His appointment asTrudeau's financial adviser during the pandemic reignitedrumourshe could be in line for the finance minister's post.

Wiseman said by convention, Carney could be appointed to cabinet if he declares he is running for a seat (there is an open seat in the Toronto riding of York Centredue to aLiberal MP'srecent resignation, not to mention Morneau's own seat in Toronto Centre).

But while Carney's domestic and international economic expertise make him a solid contender, senior government officials were insistingMonday on background that he is not getting Morneau's job.

Franois-PhilippeChampagne

Now Trudeau's Minister of Foreign Affairs, Champagne was formerly parliamentary secretary to the minister of finance. He also served as internationaltrade minister and infrastructure and communities minister, both economic portfolios.

With extensive experience in economic portfolios and a record as a cabinet performer, Champagne could be considered a contender for the financepost.

Watch | Bill Morneau's breaking point | At Issue:

Bill Morneaus breaking point | At Issue

4 years ago

Duration 10:24

The At Issue panel discusses what may have been Bill Morneaus breaking point that led to his resignation and weighs in on who might be in line to replace him.