The retired politician passed away from a heart attack at his home in Ottawa on Thursday afternoon.
Former finance minister Jim Flaherty has died. He was 64 years old.
Emergency crews were called to his home in Ottawa Thursday afternoon. The cause of death was a heart attack.
Flaherty - a Conservative MP for the Toronto-area riding of Whitby-Oshawa and one of Canada's longest serving finance ministers - resigned from politics last month, citing his desire to return to the private sector.
Reports over the last year indicated that Flaherty was suffering from a rare and painful skin disorder, yet he said, upon his resignation on March 18, that his decision to leave politics had nothing to do with his health.
The former politician - who was elected as finance minister in 2006 - was known for the introduction of the Tax Free Savings Account (TSFA) and the Registered Disabilty Savings Fund (RDSP), as well as lowering corporate taxes.
Flaherty - born in Lachine, Que. - attended Princeton University and Osgoode Hall at Toronto's York University. He worked as a lawyer for 20 years before entering politics. He served as Ontario MPP from 1995 to 2005, and also held posts as deputy premier, attorney general and minister of labour.
Flaherty is survived by his wife Christine Elliott and his three triplet sons.
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