Other Personal

Place his company (Deco Labels) into a blind trust

Global News April 19, 2018
Aug 2018

Premier Ford and Minister Rickford make an announcement at Troy's Diner in Milton

YouTube - Premier of Ontario August 29, 2018

Question asked at 30:42: "You had previously promised to put your company into a blind trust, records online show that you seem to have transferred control to your family members, can you explain exactly you have done and tell us if it's enough to separate your interests in the company from your interests for the public as Premier?"

Doug Ford's response: "... I've made directors my wife, and four girls directors, not to have actual day-to-day involvement, just as directors."

The definition of "Blind Trust" is "Type of trust in which the trustor (who is usually also the beneficiary of this trust) is prevented from knowing how his or her money is invested by the trustee. Blind trusts are created to avoid any potential conflict of interest between the duties of a public officeholder and his or her choice of investment portfolio. The trust funds are placed at the full discretion of a trustee (such as a trust company) independent of the trustor in name and reality." Ford also commented in his answer that he is "just too busy" and doesn't have any time to be involved in his business. Given the involvement of his immediate spouse and daughters, it seems reasonable there is still a financial interest for Ford, and not significant enough assurances that there not currently, nor will there be, conflicts of interest. The arrangement also does not seem to pass as a reasonable interpretation of a "Blind Trust", or the way it was marketed as such during the campaign.