12/12/2025
The Carney Government’s New Currency: Favour for Favour
The letter sent by MP Michael Barrett to the Ethics Commissioner does more than raise procedural concerns—it exposes a blueprint for a government architecture built on who you know, who funds you, and who expects a return on investment. It is not merely about staffing choices; it is about the emerging political DNA of the Carney administration.
Let us call it what it is: corporate-powered governance, where public service becomes a revolving door, and private firms become silent partners shaping national policy. The Globe and Mail’s reporting, referenced heavily in the letter, reveals an uncomfortable truth—Bay Street’s fingerprints may be all over the “Major Projects Office,” and the compensation structures being floated look less like public service and more like a private equity bonus scheme hidden inside government walls.
This is not an accident. It is a design.
According to the documents, highly paid corporate employees are being seconded to government with the expectation—explicit or implied—that their pay will be topped up when they return to their firms. Think about that. A supposedly neutral public servant, handling files with major financial implications, could be returning to a company that benefits directly from the government decisions he or she helped shape. Whatever you call it—shadow lobbying, corporate capture, conflict of interest—the effect is the same: public decisions now carry the scent of private reward.
And the smell is strong.
Carney entered office on the image of technocratic brilliance and clean governance. But what does the letter expose? A compensation culture that mirrors the “carried interest” arrangements Carney himself is alleged to have with Brookfield. If the Prime Minister’s personal financial future could intersect with corporate interests, and if the senior staff populating his flagship projects office are drawn straight from the same corporate universe, who exactly is the government working for? Canadians? Or shareholders?
The defence will be predictable: “We need talent.” But talent is not the issue. The issue is loyalty—and whether people shaping billion-dollar national decisions owe that loyalty to the Canadian public or to the boardrooms they will eventually return to, boosted by “bonuses” that serve as thank-you notes for services rendered inside government.
This letter is a flashing red light for democratic accountability.
Ethics rules exist precisely to prevent this kind of hybrid ecosystem—where the public service becomes indistinguishable from the corporate sector, and where private firms gain access not by lobbying from outside, but by embedded operatives working from within.
And the most alarming part?
If everything described is technically legal, then the loophole is not small—it is catastrophic.
The Carney government cannot sell “integrity” while tolerating a financing model where corporate sponsors bankroll the public servants influencing public decisions. It cannot sell “modernization” while importing personnel pipelines from Bay Street that undermine neutrality. And it cannot sell “public interest” while refusing to shut down a system that gives private players a premium seat in the policymaking cockpit.
This isn’t reform.
This isn’t innovation.
This is a parallel power structure—one that allows the richest players to shape the state quietly and efficiently, without the inconvenience of scrutiny, lobbying registries, or public debate.
If this is Carney’s vision of governance, then Canadians should be worried. Because once you normalize private-sector-funded influence inside government, you are no longer operating a democracy—you are operating a managed state, where elections select the front-facing managers while the real leverage sits with the sponsors behind them.
Public interest becomes negotiable.
Access becomes transactional.
And trust becomes the first casualty.
This is not simply a policy concern.
It is a warning shot.
Ignore it, and the cost will not be measured in headlines, but in the slow erosion of democratic control.