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51-800: Morneau Origin Region of origin France Other names Variant form(s) Morineau, Morneault Morneau is a surname of French origin, and may refer to: Bill Morneau (born 1962), Canadian businessman and politician David Morneau (born 1975), American composer Isabelle Morneau (born 1976), Canadian soccer player Jack Morneau (born 1926), Canadian football player Justin Morneau (born 1981), Canadian baseball player Louis Morneau , American film director and scenarist Marie-Josée Morneau (born 1969), Canadian judoka Michelle Morneau, one of

102-455: A book on his time in office, Where To From Here: A Path to Canadian Prosperity . Morneau's parents are William Francis "Frank" Morneau Sr. who came from Walkerville , Windsor, Ontario , and Helen (Lynch) Morneau, who came from Adjala Township , Alliston, Ontario . Their families had deep roots in both areas. Bill Morneau's father, Frank Morneau, founded the actuarial and benefit consulting firm W.F. Morneau & Associates in 1966. Morneau

153-600: A commitment made by the Canadian parliament, in November 1989, to eradicate child poverty in Canada by the year 2000. The federal finance minister, Don Mazankowski , announced in the 1992 Canadian federal budget the introduction in January 1993 of a renewed and enriched Child Tax Benefit (CTB) that consolidates the family allowance, the child credit and refundable child tax credit into

204-419: A controversial issue during Morneau's tenure as finance minister. The changes involve restricting several tax planning strategies, including passive investment income and income-sprinkling for private corporations, that are often used by small businesses. In response to the criticism, Morneau made several changes, including reducing the overall small business tax rate from 11% to 9%. In September 2017, Morneau

255-461: A course on global economic policy making. In May 2021, Morneau was found to have violated Canada's Conflict of Interest Act . Morneau currently serves on the Board of CIBC and is Chairman of NovaSource Power Services . He is also the author of a memoire from his time in politics Where to From Here: A Path to Canadian Prosperity . Canada Child Benefit The CCTB was enacted in response to

306-588: A greater sense of financial security, gain new career skills, and be able to afford a first home. This budget also took "initial steps" toward a national pharmacare program by creating a national drug agency with the aim of bulk-buying drugs to lower costs. Morneau received criticism for abandoning the Liberal's 2015 platform commitment to run annual deficits of less than $ 10 billion during the first couple years of their mandate, and return to balance by 2019–20. A few months after taking office, he abandoned those vows, citing

357-695: A meeting with the Prime Minister earlier in the day, Morneau held a press conference announcing he would step down as Minister of Finance and as the Member of Parliament for Toronto Centre, and that he would seek to become secretary-general of the Organization for Economic Cooperation and Development (OECD). Morneau had been under pressure to resign due to his involvement in the WE Charity controversy , where he had failed to recuse himself from Cabinet discussions involving

408-440: A national strategy to address gender-based violence. Additionally, Budget 2017 included $ 11.2-billion for an 11-year national housing strategy. On 27 February 2018 Morneau's third budget continued the theme of greater equality for women in Canada, with money targeting new parental supports, gender equality and anti-harassment initiatives, as well as measures to promote pay equity. The budget also included new investments to tackle

459-482: A specific person led you to this page, you may wish to change that link by adding the person's given name (s) to the link. Retrieved from " https://en.wikipedia.org/w/index.php?title=Morneau&oldid=1190635947 " Category : Surnames Hidden categories: Articles with short description Short description is different from Wikidata All set index articles Bill Morneau William Francis Morneau Jr. PC (born October 7, 1962)

510-464: A tax-free payment targeting low- and middle-income families; those with incomes higher than $ 150,000 will receive less than the previous system. In 2018-19 benefit year, the CCB payments are up to $ 6,496 per year per child under the age of 6, and up to $ 5,481 per year per child aged 6 to 17 in benefit year 2018-19. The CCB is income-dependent; the first income threshold for families to receive Canada Child Benefit

561-765: A unified benefit of $ 1,020 per child (with a supplementary benefit of $ 75 for the third child and following children). Unlike family allowance that it replaces, this monthly payment is not taxable for the recipient. This measure was estimated to increase benefits by $ 2.1 billions over a period of five years. The new benefit includes an earned-income supplement (referred to as the Working income supplement or WIS in future federal budgets) of up to $ 500 (per family) designed to deliver increased benefits for low-income working families with children. The supplement phases-in at 8% of earned income above $ 3,750 ; reaches its maximum amount ($ 500) between $ 10,000 and $ 20,921 of earned income and

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612-422: A weaker-than-expected economy. He then committed to continuing to reduce the government net debt-to-GDP ratio , arguing it's a better measure of government fiscal health. Between April and November 2019, Morneau was asked to take on the additional portfolio of intergovernmental affairs and internal trade in addition to the finance portfolio, filling in for Dominic LeBlanc who stepped down for health reasons. In

663-492: Is $ 30,450 and the second threshold is $ 65,975 in 2018-19. Since its inception, the Canada Child Benefit has lifted about 300,000 children out of poverty, and has helped reduce child poverty by 40% from 2013 to 2017. The budget for Canada Child Benefit has been increased in 2019, increasing the annual benefit to a maximum of $ 6,639 for children under 6 and $ 5,602 for ages 6 through 17, allowing parents to provide more due to

714-403: Is a Canadian businessman and former Liberal Party politician who served as minister of finance and member of Parliament (MP) for Toronto Centre from 2015 to 2020. Morneau was executive chairman of the company founded by his father, and Canada's largest human resources firm, Morneau Shepell (now TELUS Health), and the former chair of the C. D. Howe Institute . He was also the chair of

765-586: Is subsequently reduced by 10% of earning income above $ 20,921 (i.e. is fully exhausted at $ 25,921 of earned income). The law implementing the new benefit is adopted by the House of Commons in September 1992 and received royal assent on 15 October 1992. The National Council on Social Welfare supported the reform as a step in the right direction but pointed out that most families receiving social assistance payments or unemployment insurance payments would not be eligible to

816-435: Is the co-author of The Real Retirement , an analysis of the context and the factors involved in helping Canadians plan for a successful retirement originally published in 2012 with Frederick Vettese , as well a book on his time in office Where to From Here: A Path to Canadian Prosperity . Morneau was chair of the board at St. Michael's Hospital from 2009 to 2013, and as a board member from 2003 to 2013. He has also served on

867-598: The 1997 Canadian federal budget the gradual replacement of the Child Tax Benefit by a new Canada Child Tax Benefit (CCTB) that combines the CTB and the WIS into a single enhance payment to increase benefit levels for low-income families. The roll-out of the CCTB was scheduled in two steps: The WIS was greatly enhanced following the passage of the 1997 Canadian federal budget : Under

918-529: The 2006 Canadian federal election , the new conservative government led by Stephen Harper created the Universal Canada Child Benefit (UCCB), a new benefit of up to $ 1,200 annually for children under 6. Unlike other benefits, the UCCB is a taxable payment that is included in the recipient income. The Universal Child Care Benefit Act received royal assent on 22 June 2006 and the UCCB was paid for

969-820: The Bank of Canada , the Royal Canadian Mint , and the Canada Pension Plan (CPP) Investment Board , among others. Morneau represented Canada at international gatherings, including the G7 and G20 Summits, in addition to serving as governor of the International Monetary Fund and World Bank . On 22 March 2016, Morneau released his first budget as minister of finance. Items of note in the budget included $ 120 billion over 10 years for public infrastructure—focusing on transit, water, waste management and housing—as well as

1020-579: The Canada Pension Plan , introduced the Canada Child Benefit , and oversaw government aid during the first five months of the COVID-19 pandemic . Morneau resigned as finance minister and MP in August 2020 in the wake of the WE Charity scandal . Morneau has since cited disagreements with Trudeau as the reason for his resignation. Morneau currently serves on the Board of Directors for CIBC , and has authored

1071-476: The Economic Action Plan 2015 Act, No. 1 which received royal assent on 23 June 2015 and entered into force on 1 July 2015 (even though the new amounts were enacted as of 1 January 2015). The UCCB remained unchanged until 30 June 2016 when the benefit was terminated and replaced by the Canada Child Benefit. Canada Child Tax Benefit was eliminated in 2016 and replaced by the Canada Child Benefit (CCB),

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1122-636: The UNHCR to open a secondary school for refugee girls in Kakuma refugee camp, Kenya. Opened in 2014, today the school is home to 352 girls, representing 15 per cent of the total secondary school female enrolment in the Kakuma Camp. The day-to-day operation of the school rests with the Windle Trust and its team of 18 teachers, including eight women, and a staff of 20. Morneau was appointed as pension investment advisor to

1173-496: The earned-income supplement , hence reducing the impact of the new benefit in reducing child poverty. However, it has been found that, due to cutbacks to social assistance , the impact of this program in reducing child poverty is negligible. The maximum amount of the WIS was increased in the 1996 Canadian federal budget , reaching $ 750 in July 1997 and $ 1,000 in July 1998. The federal finance minister, Paul Martin , announced in

1224-657: The 3.5 million workers in Ontario who would not receive a comparable workplace pension after their retirement. This led to the creation of the Ontario Retirement Pension Plan, which was later withdrawn when Morneau became the federal minister of finance and the Canada Pension Plan was expanded. In his 20 May 2014 Liberal Party of Canada convention speech, Morneau stated his motivation to run for public office stemmed from seeing important changes going on in

1275-471: The Liberal's commitment to lower income taxes on the middle class by raising taxes on the wealthiest Canadians. Morneau established the Advisory Council on Economic Growth , which called for a gradual increase in permanent immigration to Canada to 450,000 people a year. Morneau reached an agreement in 2016 with provincial and territorial governments to expand the Canada Pension Plan. The expanded CPP

1326-625: The London School of Economics. He lives in Toronto with his wife Nancy McCain, a member of the New Brunswick family which owns McCain Foods , and has four children—Henry, Clare, Edward and Grace. Grace is originally from Northern Uganda, and the couple sponsored her to join their family in 2010. Morneau and his wife have made significant donations to international development programs. This has included

1377-468: The NCB supplement fully phases out increased from $ 25,921 to $ 29,590 by July 2000. The reform is part of a proposed National Child Benefit (NCB) System based on collaboration between federal, provincial and territorial governments whereas the federal government strengthen the federal benefit and provincial and territorial government can provide additional benefits and services to low-income families. Following

1428-460: The Ontario minister of finance, Dwight Duncan in 2012, providing counsel aimed at facilitating the pooling of public-sector pension fund assets. His report led to the eventual establishment of Investment Management Corporation of Ontario, which now pools funds and offers public-sector pension plans lower costs with economies of scale. In 2014, he was appointed by the premier of Ontario , Kathleen Wynne to an expert panel to advise on how to support

1479-522: The Prime Minister's office as the reason for his resignation. Morneau was succeeded as finance minister by Deputy Prime Minister Chrystia Freeland . Morneau was succeeded as MP in the by-election by Marci Ien on a much reduced majority. On January 26, 2021, Morneau terminated his candidacy for the position of secretary-general of the OECD. In 2021, Morneau was a Senior Fellow at Yale University 's Jackson Institute for Global Affairs, where he taught

1530-683: The board at St. Michael's Hospital , and Covenant House . Morneau holds a bachelor of arts (BA) degree from the University of Western Ontario , a master of business administration degree (MBA) from INSEAD , and a master's degree in economics from the London School of Economics . Morneau was elected to the House of Commons in the 2015 election and was immediately appointed finance minister by Prime Minister Justin Trudeau . As finance minister, Morneau expanded

1581-748: The board of St. Michael's Hospital Foundation (2013–2015). Morneau also served as the chair of Covenant House (1997–2000), and chair of the C.D. Howe Institute (2010–2014). He has served as a board member for the Loran Scholars Foundation (2008—2015), the Art Gallery of Ontario Foundation (2004–2011), the Canadian Opera Company (2001–2010), Greenwood College (2012–2015), the Toronto Zoo Foundation (2000–2004), and several others. In 2010, Morneau began leading an initiative with

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1632-449: The business for four years, helping him pay a good part of his university tuition. W.F. Morneau & Associates was an actuarial and benefits consulting firm; Morneau's father, Frank, founded the company and was the CEO. Morneau joined the company in 1990, and two years later was given the role of president. In 1997, Morneau replaced his father as CEO. In the years when Morneau ran the firm,

1683-561: The charity after accepting, then repaying $ 41,000 in expenses covered by the charity, as well as the fact that two of his daughters worked or volunteered for the charity. Morneau's resignation came amid reports of disagreements with Trudeau over the scandal, environmental initiatives, and COVID-19 relief spending. Morneau dismissed the reports and said his relationship with Trudeau was marked by "vigorous discussion and debate" that led to better policy. In 2023, Morneau cited disagreements with Trudeau over COVID-19 relief spending and overreach of

1734-658: The company absorbed competitors across Canada as it grew to become the nation's biggest player in the sector. In 1992, the firm bought the Canadian actuarial consulting businesses of Coopers & Lybrand, followed by the 1997 acquisition of Sobeco, a large Quebec-based pension and benefit businesses, from Ernst & Young. In 1998, Morneau also acquired the Canadian pension consulting practice of Deloitte & Touche. In 2008, Morneau's firm also bought Shepell FGI—a group that helped companies provide mental health and emotional counselling to employees—and changed its name to Morneau Shepell. As executive chair of Morneau Shepell, Morneau led

1785-461: The employee assistance part of his business, he saw a rising anxiety among Canadians, and a matched increase in mental health challenges. Through these experiences, Morneau said he began thinking seriously about helping people on a broader scale and that led him to eventually run for the Liberal Party nomination in the downtown riding of Toronto Centre . On October 19, 2015, Morneau was elected as

1836-487: The error. The commissioner determined that Morneau did not breach ethics laws in either of these investigations. Although never investigated by the commissioner, Morneau also received public criticism in the Fall of 2017 for not holding his assets in a blind trust , something he was incorrectly reported to have done. This included a significant number of Morneau Shepell shares. Morneau responded to this criticism by selling

1887-574: The firm through a period of growth from a few hundred people in 1992 to almost 4000 employees in 2015 - becoming the largest Canadian human resources services organization, with offices across North America. Under his leadership the firm went through several significant changes, including going public on the Toronto Stock Exchange in 2005. Morneau Shepell provides over 20,000 organizations representing millions of Canadians with pension , employee benefit, and employee assistance programs. Morneau

1938-472: The first time in July 2006. In the 2010 Canadian federal budget the UCCB was made shareable between shared-custody parents, and in that instance the payment was evenly split between parents (each receiving $ 50 per month). The measure entered into force in July 2011. A significant expansion of the UCCB was announced in November 2014 in the Fall Fiscal Update: The changes were incorporated in

1989-407: The founding of a school for refugee girls in Kakuma refugee camp, and the creation of a scholarship program for refugee girls at the University of Toronto . Bill Morneau had demonstrated an interest in business and entrepreneurship from a young age. At 17, Morneau and a friend started a business servicing swimming pools for homeowners, mostly in the Toronto neighbourhood of Don Mills. Morneau ran

2040-439: The introduction of the Canada Child Benefit . The budget also included money for First Nations communities, as well as larger seniors and employment insurance benefits. On 22 March 2017, Morneau released his second budget and Canada's first gender-based federal budget. The budget included new federal investments in early learning and child care, more flexible benefits for family caregivers, more support for Indigenous women, and

2091-454: The lives of Canadians through his exposure running the largest human resources firm in Canada, Morneau Shepell . On the pensions side of his businesses, he saw changes in employee plans, with the burden for saving shifting from corporations to individuals, leaving employees much more vulnerable in retirement. Employee benefit plans were also getting costlier—making hospitalizations, prescription meds, and dental and eye care harder to afford. In

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2142-489: The member of Parliament for Toronto Centre with 57.9% of the vote. He was then named by Prime Minister Justin Trudeau as minister of finance for Canada on November 4, 2015, becoming the first rookie MP to hold the position. As minister of finance, Morneau was responsible for directing more than $ 300 billion in revenues via the federal budget each year. Administering tariffs and financial regulations were also part of his portfolio. Additional responsibilities included overseeing

2193-423: The new system, the CCTB have two main components: Benefits under the CCTB are increased to provide up to $ 1,625 for the first child and $ 1,425 for each additional child (this level of benefits applies to family with income up to $ 20,921). The 1999 Canadian federal budget increased the NCB supplement by $ 350 ($ 180 in July 1999, $ 170 in July 2000) and the income level where the base benefit starts to phase out and

2244-469: The opioid crisis, cope with a surge in asylum seekers crossing the border from the United States and improve living conditions for Indigenous people. On 21 November 2018 Morneau spoke to Parliament on a "fiscal update" with an increased expenditure of $ 17.6 billion over six years. On 19 March 2019, Morneau tabled his fourth, and final, budget . The stated goals of the budget were to help Canadians feel

2295-405: The perpetrators of the 1999 Kingwood robbery incidents Robert F. Morneau (born 1938), American Catholic clergyman Roger Morneau (1925–1998), Canadian spiritual writer See also [ edit ] Morneau Shepell , a company later known as LifeWorks [REDACTED] Surname list This page lists people with the surname Morneau . If an internal link intending to refer to

2346-459: The role, Morneau acted as the federal liaison to the provincial and territorial governments to encourage collaboration and trade. Morneau tabled Canada's first gender-based budget and introduced a banknote featuring civil-rights activist Viola Desmond , making it Canada's first circulation banknote to feature a Canadian woman, and the first to feature a Black woman. The Liberal government changes to small business taxation, proposed in 2017, were

2397-413: The shares, donating a portion of the proceeds to charity, and setting up a blind trust for his remaining assets. Morneau played a key role in implementing a number of signature Liberal government initiatives, including new benefits for parents, low-income workers and seniors, putting in place Carbon pricing in Canada , as well as expanding the Canada Pension Plan . Morneau also moved forward with

2448-550: Was born in Toronto at St. Joseph's Health Centre and attended Senator O'Connor College School . From 1981 to 1986, Morneau attended the University of Western Ontario and completed an Honours BA as an undergraduate, he spent one year at the University of Grenoble in France. He then earned an MBA from INSEAD . Morneau eventually went on to earn an master of science (MSc) in economics from

2499-505: Was designed to address the shortfall in middle-income retirement planning that is opening up as a result of disappearing corporate pensions. In 2017, Morneau also led negotiations on new health care funding agreements with the provinces and territories. In August 2017, all provinces and territories agreed to a Common Statement of Principles on Shared Health Priorities , which outlines common priorities for action in home and community care, and in mental health and addiction services. Morneau

2550-750: Was fined for failing to disclose to the Conflict of Interest and Ethics Commissioner a private non-commercial real estate holding company in Avignon, France owned by him and his wife, which owns a family villa in Provence, France . Morneau said that this was a result of early administrative confusion which led to only the property, and not the legal structure, being disclosed. Morneau was also investigated in 2018, over false accusations of insider trading, and in 2020 for his family accepting $ 41,000 in luxury hospitality from WE Charity , which he paid back before publicly revealing

2601-528: Was responsible for the first five months of the federal government's economic response plan to the COVID-19 pandemic in Canada . Major initiatives between March and August 2020 included: In a fiscal update tabled on July 8, Morneau projected that the deficit for the 2020 fiscal year would reach $ 343.2 billion. The budget tabled in April 2021 showed the deficit for 2020 at $ 327.7 billion. On August 17, 2020, following

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