Joe Oliver (politician)
Joseph Oliver | |
|---|---|
| Born | May 20, 1940 Montreal, Quebec, Canada |
| Occupation(s) | Politician, investment banker |
| Years active | 1960s–present |
| Known for | Minister of Finance of Canada (2014–2015), Minister of Natural Resources (2011–2014) |
Joseph Oliver (born May 20, 1940) is a Canadian political figure who held the position of Minister of Finance from 2014 until 2015. He secured election in the 2011 federal election, representing the Eglinton—Lawrence constituency as a member of the Conservative Party until his defeat in 2015. In 2017, Oliver took on the role of non-executive chairman at Echelon Wealth Partners, a Canadian wealth management and capital markets company. By March 2019, he had joined the board of directors for the Independent Electricity System Operator (IESO).
Early life and career
Born and raised in Montreal, Quebec, Oliver comes from a Jewish background. His father practiced dentistry, while his mother was an educator. He attended Congregation Shaar Hashomayim. Oliver is married to Golda Goldman and they have two sons named David and Jeffrey.
Oliver completed a Bachelor of Arts degree in 1961 followed by a Bachelor of Civil Law in 1964 at McGill University. He later earned an MBA from Harvard Business School in 1970.
Following his academic pursuits, Oliver embarked on a career as an investment banker with firms such as Merrill Lynch and Nesbitt Thomson. Subsequently, he served as executive director of the Ontario Securities Commission and later as CEO of the Investment Dealers Association of Canada.
2008 and 2011 elections
In the 2008 election, Oliver contested the Toronto electoral district of Eglinton—Lawrence but was defeated by Liberal incumbent Joe Volpe. However, in the 2011 election, he successfully unseated Volpe to claim the seat.
Minister of Natural Resources
Oliver was sworn in as Minister of Natural Resources on May 18, 2011. Shortly thereafter, in June 2011, he expressed support for Quebec’s asbestos sector, claiming that chrysotile asbestos could be utilized "in a safe and controlled manner." During his tenure, Oliver oversaw the acquisition of Atomic Energy of Canada by SNC-Lavalin.
He was an advocate for pipeline initiatives related to Canada’s oil sands, including projects like Keystone XL and the Enbridge Northern Gateway Pipelines. In January 2012, Oliver labeled opponents of Keystone XL as "radicals" financed by foreign special interest groups intent on harming Canada's economic interests.
Under his leadership, the ministry’s advertising expenditures rose significantly from $237,000 in 2010–11 to $40 million in 2012–13. Additionally, regulatory procedures for major energy projects such as Keystone were expedited during this period.
Minister of Finance
On March 19, 2014, Oliver succeeded Jim Flaherty as Minister of Finance. In January 2015, he announced a postponement of the budget release until April due to economic uncertainty stemming from a steep decline in oil prices. When he presented the federal budget on April 21, 2015, it forecasted a $1.4 billion surplus by drawing $2 billion from the contingency reserve.
2015 Election
At the time of the 2015 Canadian federal election, Canada was officially experiencing a recession. Fellow cabinet member Jason Kenney, running in a secure riding, served as the primary Conservative spokesperson on economic matters. Oliver maintained a low profile throughout the campaign—canceling speaking engagements, quietly attending a G20 summit in Turkey, and concentrating on his local campaign efforts. Ultimately, he lost his parliamentary seat to Liberal contender Marco Mendicino.
Attempted return to politics
In October 2016, Oliver pursued the Progressive Conservative nomination for York Centre ahead of the 2018 Ontario provincial election. However, on January 15, 2017, he was defeated by lawyer Roman Baber, who won the nomination with a margin of 711 to 465 votes.
Board memberships
Oliver holds positions on the boards of High Arctic Energy Services, the Independent Electricity System Operator (IESO), and the Manning Centre. Additionally, he acts as chairman for PlantExt, an Israeli company specializing in medical cannabis.
External links
- 1940 births
- Anglophone Quebec people
- Ministers of finance of Canada
- Conservative Party of Canada MPs
- Jewish Canadian politicians
- Living people
- Harvard Business School alumni
- McGill University alumni
- Members of the House of Commons of Canada from Ontario
- Members of the King's Privy Council for Canada
- Merrill (company) people
- Ministers of mining of Canada
- Politicians from Montreal
- Politicians from Toronto
- Members of the 28th Canadian Ministry
- McGill University Faculty of Law alumni
- 21st-century members of the House of Commons of Canada