Sunday, January 25th3.6°C
24624
24733

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

23643


Recent Trending




Today's Market
S&P TSX14779.35+15.369
S&P CDNX678.18-0.79
DJIA17672.60-141.38
Nasdaq4757.879+7.481
S&P 5002051.82-11.33
CDN Dollar0.8050-0.0018
Gold1298.70-2.00
Oil46.35-2.34
Lumber312.30+6.50
Natural Gas2.967+0.132

 
Okanagan Companies
Pacific Safety0.115-0.005
Knighthawk0.010.00
QHR Technologies Inc1.38+0.06
Cantex0.035+0.005
Anavex Life Sciences0.1810.00
Metalex Ventures0.040.00
Russel Metals24.48+0.32
Copper Mountain Mining1.10-0.02
Colorado Resources0.155+0.005
ReliaBrand Inc0.006+0.001
Sunrise Resources Ltd0.055+0.03
Mission Ready Services0.22+0.02

 



24910

FEATURED Property
21645271704 45th Street
$550,000
more details
Click here to feature your property
Please wait... loading


How to price: workbook approach

In 2008 Self Counsel Press published my book - Pricing Strategies for Small Business. The book is now available in Europe, India, Russia and the United States. The purpose of the book was to make avai...


Ailing Parents: Tax Issues

If your parent has become ill, there can be several tax issues that come into play depending on the nature of their illness, their age and the role that family members are playing. For example, if you...


What do I pay ICBC for anyway?

If you have had ongoing dealings with ICBC as a result of a car accident than you have likely had the pleasure of dealing with at least two sides of ICBC. Initially the relationship starts off pleasan...

_








Member of BC Press Council


24598