We’ve been following Jim Flaherty quite a bit here on theresashaw.ca as his monetary policy has had such a drastic effect on housing, affordability, real estate market, financing, mortgages and more in Canada. News yesterday of his resignation quite sudden for some, but somewhat expected by others. His replacement is expected to be Joe Oliver, read more about him below:
Reblogged from National Post
Joe Oliver, the relatively new Toronto-area MP who has spent the past three years as Natural Resources Minister, is expected to be named Wednesday as the successor to Finance Minister Jim Flaherty
News broke of the appointment Tuesday night.
Mr. Oliver, 73, is a relative newcomer to the ranks of the Conservative caucus, having first been elected to his Eglinton-Lawrence riding in 2011.
Nevertheless, whereas Mr. Flaherty brought more than a decade of political skills to the post, Mr. Oliver boasts more than 40 years’ experience in the financial sector.
Originally from Montreal, Mr. Oliver obtained an MBA from the Harvard Graduate School of Business in 1970, and just before his 30th birthday had entered the investment sector with Merrill Lynch Canada.
The 1980s and 1990s saw him take up portfolios at Nesbitt Burns and First Marathon Securities Ltd., as well as serving as the executive director of the Ontario Securities Commission from 1991 to 1993.
Prior to his going to Ottawa, however, Mr. Oliver was best known for his more than decade-long tenure as president and CEO of the Investment Dealers Association of Canada.
Upon his retirement from the IDA in 2007, Mr. Oliver was immediately recruited to challenge longtime Liberal incumbent Joe Volpe via a phone call from former Brian Mulroney cabinet minister Tom Hockin.
The ex-IDA president failed in the first go, losing to Mr. Volpe by 2,000 votes in the 2008 election.
Three years later, however, he surged ahead with a clear 4,000-vote lead, becoming one of a wave of Tory candidates to claim Toronto ridings for the now-majority Conservative government.
Mr. Oliver was soon sworn in as the Minister of Natural Resources, replacing Christian Paradis.
His years in the post have been defined largely by energy, particularly as Ottawa works to push pipelines from the Alberta oil sands to the U.S. South and the British Columbia coast.
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