Ontario finance minister rules out leadership run

Wed Oct 24, 2012 11:00am EDT
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TORONTO Oct 24 (Reuters) - Ontario Finance Minister Dwight Duncan on Wednesday ruled out a run for the leadership of the Canadian province's Liberal Party after Premier Dalton McGuinty's surprise resignation last week, and he said he would not stand for re-election to the provincial legislature.

In announcing his decision, Duncan acknowledged the huge fiscal challenges the province faces in its fight to eliminate a C$14.4 billion ($14.51 billion) deficit.

"Whoever becomes the next Liberal premier and whoever wins the next general election is going to have to have a very clear plan," he said.