Selinger has lost all credibility; we need a new Finance Minister: McFadyen and Gerrard
Hugh McFadyen, Leader of the Official Opposition and Dr. Jon Gerrard, Leader of the Manitoba Liberal Party, released new information today that Premier Gary Doer and Finance Minister Greg Selinger withheld the critical November 2000 Cabinet warning from the Auditor General.  They are demanding immediate action by the Premier to show leadership and move Manitoba beyond the Crocus crisis. 

Leaked Cabinet documents have revealed the Premier, Finance Minister and members of the NDP Cabinet knew about the looming Crocus crisis as early as November 2000, but did nothing to protect Manitobans.

“In order to stop further losses to nearly 34,000 Crocus shareholders and to avoid wasting millions more in taxpayer dollars fighting a Crocus shareholders lawsuit, the Premier must restore faith in our venture capital markets,” said McFadyen.  “He has run out of time and excuses.  The Premier must call an inquiry and insist that his Finance Minister resign immediately.”  

“The document was authored and signed by Selinger,” said McFadyen.  “Not only did he know about financial problems at Crocus and failed to warn Manitobans, but he withheld critical information in the course of the Auditor General’s probe into Crocus.”

Gerrard said if Manitobans knew what the government knew in November 2000, they would never have invested in Crocus.  

“The NDP government promoted Crocus as a sound investment; perfect for the average Manitoban to entrust their savings in,” said Gerrard.  “When the NDP learned about problems at Crocus, rather than re-examine the fund and alert Manitobans of the concerns, what was their course of action? Sell more!  It’s absolutely disgraceful the government abused its authority in this way.”

“Manitobans have rightfully lost all confidence and faith in Greg Selinger to manage their tax dollars,” charged McFadyen.  “He failed to protect Manitobans and for that reason, he must be replaced immediately.”