Canada’s veteran Conservative finance minister Jim Flaherty is stepping down after steering the country’s economy through the global financial crisis.
Sixty-four-year-old Flaherty who has held the position for eight years is returning to the private sector.
He leaves Canada on a relatively sound financial footing ahead of next years election.
There had been speculation in recent months that he might quit politics. He denied his decision is related to his health – he has been treated for a rare skin disease over the past year.
