Former finance minister Jim Flaherty dead at 64

Ottawa, ON - Former finance minister Jim Flaherty has died at the age 64, nearly a month after he stepped down from cabinet ahead of a planned move to the private sector.

The cause of death was not immediately available. Paramedics were called to Flaherty’s Ottawa condominium shortly after noon Thursday, and he was pronounced dead not long after, police said.

Flaherty’s wife, Ontario Progressive Conservative MPP Christine Elliott, and the couple’s triplet sons, John, Galen and Quinn, issued a brief statement asking for privacy. The statement said Flaherty “passed away peacefully.”

The House of Commons was suspended after the news of Flaherty’s death broke Thursday afternoon. The Ontario legislature was also adjourned for the day.

The flag on the Peace Tower at Parliament Hill was lowered to half-mast.

Prime Minister Stephen Harper said “today is a very sad day for me, for our government and for all of our country.”

“Jim will be sorely missed, not only by his many friends on both side of the House, I know particularly his friends in this caucus, among whom he was held unanimously in a combination of great respect and affection,” Harper said in a statement to the Conservative caucus.

“But he will also be missed by the countless thousands of Canadians that he devoted himself to and whom he helped during his long and successful career in public life.”

Harper said that he will speak more about Flaherty’s legacy and “the special relationship I shared with Jim” in the days ahead. Harper appeared with his wife Laureen, who was wiping tears from her eyes.

Former and current MPs and MPPs of all political stripes paid tribute to Canada’s longest-serving finance minister.

Joe Oliver, who succeeded Flaherty in the finance post, said he was “shocked and very saddened” to learn of Flaherty’s death.

“He was an honourable, dedicated and exceptional man who loved Canada,” Oliver said.

NDP Leader Thomas Mulcair said he and his wife, Catherine, “are very, very sad at the loss of a great Canadian.”

Mulcair, near tears, made a brief statement outside the House of Commons. He paid tribute to Flaherty, calling him an “extraordinarily dedicated public servant.”

Liberal Leader Justin Trudeau issued a statement, saying he learned of Flaherty's death "with great shock and sadness."

"Jim was a dedicated Parliamentarian with a strong social conscience and fundamentally committed to the ideal of public service," Trudeau said. "He was a proud Canadian and showed continued devotion and commitment to his country over many years. This is a loss to the entire family in the House of Commons."

Green Party Leader Elizabeth May issued a statement offering her “deepest condolences” to Flaherty’s family.

“He was a rare partisan, able to extend a mischievous twinkle to a rejoinder in Question Period,” May said. “He was a dedicated public servant and a genuinely kind man. He will be missed.”

NDP MP and finance critic Peggy Nash tweeted: “Oh so sorry to learn news about Jim Flaherty. Very very sad.”

Former Ontario premier Mike Harris said Flaherty will be remembered for his political and finance skills. However, Harris told CTV News Channel: “He was an honest, genuine good guy…I loved him because he was an honest, good guy.”

Current Ontario Finance Minister Charles Sousa tweeted that Flaherty “was a man of great integrity. My thoughts & prayers are with Christine & family. He was a champion for Canada. We’ll miss him.”

Flaherty stepped down from his post as finance minister last month, citing plans to eventually take a job in the private sector.  At the time, Flaherty said he and his family came to the decision that he would resign from cabinet, but did not say whether he would remain an MP until the 2015 election.

He denied that his health had anything to do with the move.

He had been coping with a painful skin condition, Bullous Pemphigoid. The condition required him to take powerful medications that left him appearing bloated, and looking and sounding at times extremely fatigued.

In a statement announcing his resignation from cabinet, Flaherty said that he was “on the road to a full recovery.”

Flaherty was born in Lachine, Que. on Dec. 30, 1949 and, after growing up in Quebec, went on to earn a BA from Princeton University and a law degree from York University’s Osgoode Hall Law School.

He helped found law firm Flaherty Dow Elliott before jumping into provincial politics in the early 1990s.

He lost his first time out, but won the Whitby-Ajax riding in 1995 and held several cabinet posts over the next decade, including labour, finance and deputy premier.

After two unsuccessful attempts to win the leadership of the Ontario Conservatives, he made a successful leap to the federal scene in 2006, winning in Whitby-Oshawa.

As federal finance minister, Flaherty made tax cuts a priority, starting with a one-per-cent cut to the GST, followed by another cut in 2008.

In 2007, Flaherty introduced the Registered Disability Savings Plan to help Canadians with disabilities save for retirement, and in 2008 introduced the Tax-Free Savings Account.

He also raised the base deduction rate, cut a point from the lowest personal tax rate and raised the limits of the two lowest tax categories.

Flaherty wasn’t afraid to spend, however, once the 2009 recession hit, pouring billions of stimulus into the economy via the Economic Action Plan.

When he stepped down last month, Flaherty thanked his constituents, his House colleagues, his wife, who represents her husband’s former provincial riding, and their sons.

“We live in the greatest country in the world, and I want Canadians to know that it has been my honour and my privilege to serve them,” Flaherty said.

About Jim Flaherty, 

James Michael foundly known as Jim Flaherty (Born December 30, 1949) was Canada's federal Minister of Finance (2006–2014) and also a former provincial Minister of Finance for Ontario (2001–2002). From 1995 until 2005, he was the Member of Provincial Parliament for Whitby—Ajax, and a member of the Ontario Progressive Conservative Party caucus and unsuccessfully sought the leadership of the provincial party on two occasions.

Flaherty won the riding of Whitby—Oshawa in the federal election held January 23, 2006 as a member of the Conservative Party of Canada narrowly beating Liberalincumbent Judi Longfield. He was re-elected in 2008 and 2011. Flaherty's widow, Christine Elliott, represents Whitby—Oshawa in the Ontario legislature.