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Canadian Finance Minister Jim Flaherty resigns | Canadian Finance Minister Jim Flaherty resigns |
(about 4 hours later) | |
Canadian Finance Minister Jim Flaherty has resigned, announcing that he is returning to the private sector. | Canadian Finance Minister Jim Flaherty has resigned, announcing that he is returning to the private sector. |
Mr Flaherty, 64, who has held the job for eight years, said that he would be returning to the private sector. | |
He said his decision is not related to his health - he has been treated for a rare skin disease over the past year. | He said his decision is not related to his health - he has been treated for a rare skin disease over the past year. |
He leaves Canada on a relatively sound financial footing ahead of an election planned next year for PM Stephen Harper's Conservative government. | He leaves Canada on a relatively sound financial footing ahead of an election planned next year for PM Stephen Harper's Conservative government. |
"This decision was made because it is the right one for me and my family at this time," Mr Flaherty said in a statement on Tuesday. | |
"I am proud of the work I have done," he wrote. | |
There had been speculation in recent months that he might quit politics. | There had been speculation in recent months that he might quit politics. |
Mr Harper is expected to announce Mr Flaherty's replacement on Wednesday. | |
"Since 2006, he has been a steady hand, ably guiding Canada through the most challenging economic times since the Great Depression and gaining the country a solid global reputation for economic management," Mr Harper said of the outgoing political official. |
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