Deputy Finance Minister Michael Horgan to Retire Soon

The government confirmed on Wednesday that Canada’s deputy finance minister, Michael Horgan, will be retiring this month, adding his name to the growing list of departures by senior financial policymakers. Deputy finance minister, Michael Horgan, has decided to quit almost two weeks after long-serving finance minister, Jim Flaherty, left the top job. Meanwhile, the central bank is also on the lookout to fill two positions on its policy-setting council.

Former energy minister, Joe Oliver, replaced Mr. Flaherty and is still getting up to speed on his new portfolio. Oliver was inquired by reporters to comment on a report in the Globe and Mail newspaper that alleged Horgan is quitting on April 19. In his reply, Oliver straightforwardly stated that “he took retirement,” and explained that he has had a 36-year career in the federal government have reached his maximum pension. Oilver alleged that “he’s performed a magnificent service for the country, most recently in finance, and I wish him well.” Furthermore, Oliver added that a new deputy minister will be announced shortly.

There is a growing list of top financial policymakers who have decided to quit recently. Former finance minister, Mr. Flaherty, put an end to his eight years of service in his resignation on March 18, after which Mr. Oliver was sworn in as his successor the following day. Whereas, the BoC is set to lose its No.2 policymaker, Senior Deputy Governor Tiff Macklem, on May 1, while one of four deputy governors, John Murray, also planned to quit on April 30.

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