The parliament of Canada lost one their own last week with the passing of former Minister of Finance Jim Flaherty. I know that I’ve said that I wouldn’t discuss current politics in my blogs. However, with his passing, Jim Flaherty no longer belongs to the present…Jim Flaherty now belongs to history. I will discuss his life in politics, his record and his legacy. I will conclude with the story of the one time I was fortunate enough to meet him.
Mr. Flaherty’s life in politics has been discussed at length in the past number of days. For that reason, I will only touch on it. He was first elected to Queen’s Park as part of the Mike Harris win in 1995. He was re-elected in 1999 and 2003. He held a number of cabinet posts including treasurer. He left provincial politics to run federally. In 2006, the same election that brought Stephen Harper’s Conservatives to power, saw Jim Flaherty elected to the House of Commons. He was the first and, until 3 weeks ago, the only Minister of Finance to serve under Stephen Harper.
Jim Flaherty was a true believer in smaller government and he acted to put in place policies that would fulfill that belief. As a member of the Harris government, he sought to make government smaller and less intrusive in the private sector. He brought this passion to the federal scene. When faced with the economic crises, he recognized a need for the government to step in. But, the intervention was geared towards helping the private sector create jobs. And, he had a plan to wind down the dramatic increases in government spending. He retired as he brought the budget back into balance.
What is his legacy? He was one of the longest serving finance ministers in Canadian history. In that time, he faced numerous challenges. If one word were used to describe his tenure, it would be “fairness”. He implemented the campaign promise on lowering the GST, even though a majority of economists that it a bad idea. He did so because it treated everyone the same…it was fair that everyone’s purchases would drop by an equal amount http://www.topessayservice.org/. He reversed the promise on income trusts. He did this because the government wasn’t prepared to maintin revenues on the backs of families. Corporations had to pay their fair share. He created the tax-free savings accounts. As a former investment professional, I believe that these are actually BETTER savings methods than RRSPs (this is not intended as investment advice…for investment advice, consult a professional). Everyone could put money aside and not worry about the tax consequenses in the future. Tax free, meant tax free.
Then came the global economic crises. Though nothing in Canada caused the problems, Canada was not immune. Jim Flaherty had a plan. By now, everyone in Canada knows of “Canada’s Economic Action Plan”. He worked more closely with the Governor of the Bank of Canada than had ever been done before. Canada’s fiscal and monetary policies were married to ensure growth; to ensure opportunity for all Canadians. Spending was dramatically increased. Record deficits were reached. Jim Flaherty had become the ultimate Keynesian. Unlike previous Keynesians, he had a plan to eliminate the deficits. And, he did it. He was an acknowledged leader in the world.
The reason that emotions ran high so high across the political spectrum is that everyone acknowledged his belief in fairness. As some opposition members acknowledged, even where we disagreed, he always took the time to listen. He truly believed that the policies he was bringing forward were to the benefit of the people of Canada. No greater legacy can exist for a politician.
I only met Jim Flaherty one time. This is that story. I was one of the 350 people invited to attend the state dinner for Queen Elizabeth II in 2009. Before the dinner, there was a reception. In the room were most members of the government of Canada, many opposition leaders and members (I was right behind Jack Layton on the way to the receiving line). There were 5 former Ontario Premiers and a former Prime Minister. There were military leaders, police chiefs, fire chiefs and aboriginal leaders. Ontario’s Lieutenant Governor and a future Governor General….And me. While I wasn’t alone in not being a “leader” in some field, looking around the room, there weren’t many of us. I commented that, of the 350 guests, I probably ranked dead last in importance (though, that didn’t detract from my being there). While standing there, in awe of my surroundings, but, not socializing with anyone, Jim Flaherty and his wife came up to me and introduced themselves. He took the time to introduce himself to someone who, no doubt, appeared to feel he was out of place (I was the only one staring with bulging eyes of those around me). He took the time to talk with me. He treated me as an equal, though, clearly I was not…especially in that room. He could have spoken with his former bosses, Premiers Harris or Eves. Instead, he was talking to me. It was largely him asking me about myself, but, as recent stories has confirmed, he really cared about people. Not for a moment did he make me feel like a lesser. He seemed genuinely interested in what I was saying. That was Jim Flaherty. A man who worked with the most powerful people in the world, was at home with everyone. No opinion was rejected outright. No person turned away. He embraced all.
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