Jim Flaherty Resigns from Cabinet, Joins Private Sector

In a surprise announcement made by Finance Minister Jim Flaherty, he revealed his decision to resign from cabinet and return to the private sector on Tuesday afternoon. Flaherty addressed reporters a short while after the stock markets closed, asserting that he has informed Prime Minister Stephen Harper of his decision Monday afternoon.

In his statement, Flaherty alleged that “this was a decision I made with my family earlier this year, as I will be returning to the private sector.” He added that I am grateful to Harper for giving me the opportunity to serve as finance minister since 2006, i.e. when the Conservatives took office. He stated that “as a government, we achieved great things for Canada and I could never have accomplished what I have as finance minister without the full support of Prime Minister Harper.” Moreover, Flaherty alleged that “in my time as finance minister, I am proud of the work I have done to help manage the deepest economic challenge to face Canada since the Depression of the 1930s and ensure Canada emerged stronger and as a recognized economic leader on the international stage.”

On the other hand, while accepting Flaherty’s resignation from cabinet with “great reluctance,” Prime Minister Stephen Harper stated that “in a political career of almost 20 years, Minister Flaherty has exemplified the best qualities of those who enter public life: a true commitment to service, and a sincere desire to leave the country in better shape than it was when he entered politics.”

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