Finance Canada accidentally posted upcoming tax measures online

A draft news release detailing upcoming tax measures was mistakenly posted on the Finance Canada website for a few minutes late Thursday afternoon, forcing Finance Minister Joe Oliver to hastily table the details on Friday, earlier than planned.

Opposition raises concern about possible 'insider trading and market distortions'

A draft news release detailing yet-to-be introduced tax measures was mistakenly posted on the Finance Department's website for a few minutes late Thursday afternoon. Finance Minister Joe Oliver called the incident 'an administrative error' that was quickly rectified. (Adrian Wyld/Canadian Press)

Finance Canada admits it accidentally disclosed details of imminent tax measures, sparking concerns that some individuals could have profited from advance knowledge of the changes.

A draft news release detailing tax measures to be contained in an upcoming House of Commons motion was mistakenly posted on the department's website for a few minutes late yesterday afternoon.

That forced Finance Minister Joe Oliver to hastily table the motion today, earlier than planned, in order to give all Canadians full access to the information.

In a statement, Oliver called the incident "an administrative error" that was quickly rectified.

"Action was taken to take [the release] down within 10 minutes. I take this situation very seriously and have instructed the department to review its procedures to ensure it does not happen again."

NDP finance critic Nathan Cullen wrote Oliver on Friday about the leak of "potentially sensitive tax information."

"The leak and availability of this information, prior to it being made public, gave those with this information an opportunity for personal financial gain," Cullen said in his letter.

"This could obviously lead to insider trading and market distortions."

However, Oliver played down the sensitivity of the measures in the ways and means motion in the House, saying most are aimed at implementing tax changes announced in last February's federal budget.

"There were no details of the fall economic update contained in the release," he stressed.

"These matters were technical changes with the vast majority having already been consulted on."

The motion does contain almost a dozen income and sales tax measures that were not included in the budget, including doubling the children's fitness tax credit to $1,000, as announced by Prime Minister Stephen Harper on Thursday.

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