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Who will replace Jim Flaherty as finance minister?

Minister of Finance Jim Flaherty speaks with reporters as he leaves question period in the House of Commons on Parliament Hill in Ottawa on Thursday, March 6, 2014. THE CANADIAN PRESS/Justin Tang. THE CANADIAN PRESS/Justin Tang

OTTAWA – It was anticipated, but still sent shock waves through Ottawa and beyond when Jim Flaherty announced late Tuesday afternoon he’s resigning from his cabinet post as finance minister.

Prime Minister Stephen Harper’s only finance minister since the Conservatives took office in 2006, the long-time politician said he is leaving because it is the right time for him and his family.

He’s expected to stay on as an MP – for now.

We take a look at some of the names being kicked around to replace Flaherty.

The speculation will only last a day: The new finance minister will be named on Wednesday.

Minister of Employment and Social Development Jason Kenney speaks in Ottawa on February 28, 2014. THE CANADIAN PRESS/Sean Kilpatrick. THE CANADIAN PRESS/Sean Kilpatrick

Jason Kenney: One of the most successful ministers in the Conservative government, Kenney won hearts in suburban ridings as immigration minister, navigating one of the most complicated portfolios. He was rewarded last year with the challenge of Employment Minister, and after tense negotiations, recently managed to secure the Canada Job Grant agreements with provinces. Kenney is also among the frontrunners to replace Harper at the helm of the Conservative party.

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Cabinet posts: Immigration Minister, Employment and Social Development Minister.

Foreign Affairs Minister John Baird reads a statement regarding the situation in Ukraine, Tuesday, March 18, 2014 in Montreal. THE CANADIAN PRESS/Paul Chiasson.

John Baird: A veteran politician in both Ontario and at the federal level, Baird has served as Treasury Board President, Transport Minister, Environment Minister and House leader. He is competent and confident in public. Now in one of the most high-profile jobs as Foreign Affairs Minister, Baird has proven a long and loyal soldier. Only one snag: he likes his current job. A lot.

Cabinet posts: Treasury Board President, Transport Minister, Environment Minister, House Leader, Foreign Affairs Minister.

Industry Minister James Moore makes an announcement in Ottawa on Wednesday, February 5, 2014., regarding Canada’s wireless industry. THE CANADIAN PRESS/Sean Kilpatrick.

James Moore: One of the rising stars of the Harper cabinet, Moore skyrocketed to the position of Industry Minister last summer. Young, able and ambitious, Moore may sneak in as the wild card in a portfolio that hasn’t had a shake-up in eight years. He might be the young politician to take on Justin Trudeau’s economic qualifications.

Cabinet posts: Heritage Minister, Industry Minister.

Treasury Board President Tony Clement reacts to Auditor General Michael Ferguson’s latest report at a news conference in Ottawa, Tuesday, Nov.26, 2013. THE CANADIAN PRESS/Sean Kilpatrick.

Tony Clement: Among the favourites for Flaherty’s replacement already serves as Treasury Board President. He is quick-witted and isn’t easily intimidated by the media – a quality Flaherty also possessed. The former health minister in both the Ontario and federal governments also has an active social media presence – another way to reach younger voters in the upcoming election.

Cabinet posts: Minister for the Federal Economic Development Initiative for Northern Ontario, Health Minister, Industry Minister, Treasury Board President.

Minister of Transport Lisa Raitt announces new funding for the National Aerial Surveillance Program (NASP) at Vancouver International Airport in Richmond, B.C., on Wednesday February 19, 2014. THE CANADIAN PRESS/Darryl Dyck.

Lisa Raitt: Regularly praised as one of Harper’s strongest ministers, Raitt has proved herself in a challenging portfolio. As Transport Minister during the Lac-Megantic disaster, Raitt handled the difficult file with grace under pressure.

Cabinet posts: Natural Resources Minister, Labour Minister, Transport Minister.

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