After studying Philosophy and Law at the University of Toronto, Paul Martin was admitted to the Ontario Bar in 1966, but began his business career in a Montreal-based investment firm – Power Corporation. After that, he took over the management of Canada Steamship Lines, a maritime transportation company that he bought in 1981 and which he later transferred to his son to manage in 2003.
Enters politicsIn 1988, the Liberals were in the opposition and were searching for new blood. Upon the advice of his father, Paul Martin filed his candidacy in the riding of LaSalle-Émard and made it to the House of Commons. When John Turner abandoned the party the following year, Paul Martin tried his luck in succeeding him but finished only second to Jean Chrétien. In 1993, he was appointed Minister of Finance in the Chrétien government, a position that he held until 2002.
Thanks to his efforts as Minister of Finance, Canada eliminated its budget deficit of $42 billion and went through five consecutive years with a budget surplus. Quebec, however, believed that his austerity programmes contributed to the tax imbalance between the federal and provincial governments.
In 2000, Paul Martin and his supporters tried to topple the Liberal leader but their attempts were unsuccessful. This particular incident brought about friction and tension in his relationship with Jean Chrétien. In the 2000 elections, Mr. Chrétien obtained a third consecutive parliamentary majority which helped maintain, for a time, his role as Liberal leader.
In June 2002, tired by political games being played backstage, Prime Minister Chrétien re-organised his Cabinet and chased Paul Martin away from his position. The pressure did not stop and Jean Chrétien finally announced his departure.
In November 2003, Paul Martin became Liberal Party leader supported by 90% of his delegates. He was sworn in as Prime Minister of Canada on December 12, 2003. Armed with a favourable evaluation of his term and enjoying his growing popularity, he called an election.
A few weeks before election day, an incident involving a misappropriation of public funds in favour of communications agencies working closely with the Liberal government (sponsorship scandal) harmed the credibility of the Liberals who won the elections on June 28, 2004 with a minority government, winning 135 seats.
After a turbulent 18 months, the House of Commons released a no-confidence motion targeted at Martin’s government on November 28, 2005. Elections were scheduled on January 23, 2006 and the Liberal Party lost power, replaced by a minority Conservative government led by Stephen Harper.
That same night, Paul Martin announced his intention to resign as Leader of the Party but remained as an MP for LaSalle-Émard until last week.




