Finance Minister Bill Morneau announced that he is stepping down amid the ongoing scandal of accepting gifts from WE Charity and rumours of a growing rift with Trudeau. Morneau, who has held the post for five years, announced his resignation Monday evening in a press conference from Ottawa. He will give up both his cabinet role and his seat as member of Parliament for Toronto Centre.

TORONTO – A week-long rumour came true on Monday as Finance Minister Bill Morneau decided to jump Prime Minister Justin Trudeau’s capsized ship of COVID-19 related payout to friends and the WE Charity scandal, where Morneau came under-fire for accepting gifts from the charity the Liberals awarded the ill-fated $900 million summer student program.

Morneau announced that he is stepping down amid the ongoing scandal of accepting gifts from WE Charity and rumours of a growing rift with Trudeau.

Morneau, who has held the post for five years, announced his resignation Monday evening in a press conference from Ottawa. He will give up both his cabinet role and his seat as member of Parliament for Toronto Centre, reported CTV News.

He announced he will make a bid to become secretary general of the Organization for Economic Co-operation and Development (OECD).

Morneau said he told Trudeau he wasn’t going to run in the next federal election and that he only ever intended to serve in two governments. He said now is the “right time for a new finance minister” to manage a “long and uncertain” recovery as Canada rebuilds from the economic downturn brought on by COVID-19.

Morneau denied he was asked to quit and said that he had come to the conclusion he wasn’t the “most appropriate person” for the job of finance minister.

He said his relationship with Trudeau was built on “vigorous discussion and debate” but that it always led to better policy. Serving as finance minister was “the work of a lifetime for me,” said Morneau.

In a statement, Trudeau said Morneau “worked relentlessly to support all Canadians and create a resilient, fair economy that benefits everyone.”

He said Canada would “vigorously support” his bid to lead the OECD.

“I want to thank Bill for everything he has done to improve the quality of life of Canadians and make our country a better and fairer place to live. I have counted on his leadership, advice, and close friendship over the years and I look forward to that continuing well into the future. Bill, you have my deepest gratitude and I know you will continue making great contributions to our country and for Canadians in the years to come.

Reports have swirled that Trudeau and Morneau were at odds over the charity scandal, environmental initiatives, and pandemic relief spending. Morneau has been in the crosshairs of opposition parties since the WE Charity scandal broke last month.

NDP leader Jagmeet Singh said Canadians deserve a government that is focused on helping them, not on their own scandals and conflicts within their own party.

“That is especially true right now, as the pandemic has made it even more difficult for Canadians to make ends meet.

“During the worst recession since World War II, millions of Canadian families are worried about keeping a roof over their heads and food on the table. Just two weeks before Justin Trudeau is about to cut Canadians off the Canadian Emergency Response Benefit, his own scandals have distracted the government from the job of helping Canadians.

“This is the third time the Prime Minister has been investigated for breaking ethics laws – and he was found guilty the first two times.

“After losing his senior advisor, and Ministers Jody Wilson-Raybould and Jane Philpott, Mr. Morneau is the latest in a string of people that have taken the heat for the Prime Minister when he’s gotten caught breaking ethics laws.

“When the Prime Minister breaks the law to help himself and wealthy insiders, all Canadians pay the price."

WE Charity, which was granted a contract worth up to $43.5 million to deliver a now-cancelled student grant program, partly paid for two trips for Morneau’s family members to Kenya and Ecuador, including one trip he took part in himself.

Morneau said he made an “error” and intended to cover the cost of the trips. He then cut a cheque for $41,000.

Canada’s ethics commissioner is now investigating both Morneau and Trudeau for not recusing themselves from decision-making around the contract, given their family connections to WE Charity.

Speculation will now begin about who will take Morneau’s place, but there has been plenty of talk that former Bank of Canada governor Mark Carney, who has been seen as a highly coveted potential politician, has had the ear of Trudeau about the best course for economic recovery, reported CTV News.