Tuesday, September 23rd15.0°C
23284
22455

Harper to announce new finance minister today after Jim Flaherty's resignation

OTTAWA - Prime Minister Stephen Harper is expected to name a new finance minister today after Jim Flaherty turned in his resignation Tuesday afternoon ahead of a return to the private sector.

Sources say Natural Resources Minister Joe Oliver might step into the job which Flaherty held for eight years.

The Prime Minister's Office hasn't confirmed Oliver's promotion but the 73-year-old cancelled an event he had scheduled in British Columbia for today.

Oliver is widely respected within the Harper cabinet and among Conservatives, and is known on Bay Street, having spent decades working there as an investment banker.

Oliver has a much different demeanour than Flaherty though, and is often gruff and highly partisan.

Flaherty has been the only finance minister the Harper Conservatives have had since they came to power eight years ago.

He managed the country's economy through one of its worst economic crises in 2008-2009, running up large deficits but leaving the books virtually balanced after his Feb. 11 budget.

Flaherty has said his decision to resign was made with his family earlier this year and is unrelated to a rare skin condition that requires him to take medication that led to weight gain and apparent fatigue.

"As I begin another chapter in my life, I leave feeling fulfilled with what we have accomplished as a government and a country during one of the most challenging economic periods in our country's history," Flaherty said in a statement issued late Tuesday afternoon.

An official in the Prime Minister's Office said Flaherty would be retaining — at least for now — his seat in the House of Commons, meaning he remains an MP for the time being.

Observers have said whoever takes over from Flaherty will have their work cut out for them.

The Canadian Press


Read more Business News

22970


Recent Trending




Today's Market
S&P TSX15125.67-3.33
S&P CDNX925.18-2.91
DJIA17055.87-116.81
Nasdaq4508.688-19.001
S&P 5001982.77-11.52
CDN Dollar0.9027-0.0005
Gold1223.60+1.60
Oil91.50-0.91
Lumber329.10-2.90
Natural Gas3.888+0.019

 
Okanagan Companies
Pacific Safety0.135-0.035
Knighthawk0.01-0.005
QHR Technologies Inc1.26-0.01
Cantex0.05+0.01
Anavex Life Sciences0.20-0.0195
Metalex Ventures0.06+0.01
Russel Metals34.95-0.42
Copper Mountain Mining2.42+0.02
Colorado Resources0.165+0.005
ReliaBrand Inc0.0157-0.0049
Sunrise Resources Ltd0.02-0.005
Mission Ready Services0.265-0.005

 



23480

FEATURED Property
16232314859 Parkridge Place
4 bedrooms 3 baths
$679,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Is this a fair offer from ICBC?

“Is this a fair offer from ICBC?”…. “How much should I settle for?”… “What is my claim worth?” These are just some of the questions I regularly get as...


Disruptive innovation

Last night I was privileged to be able to speak at the Greater Westside Board of Trade business awards dinner. Photo: ContributedI talked about Innovation and Collaboration which are two very interes...


Executors and their duties

There will be a time when you will need to decide who you should appoint as executor of your Will. As well, there may be a time when you will be asked by someone to act as the executor of his or her W...

_








Member of BC Press Council


22814