Quebec's former finance minister Raymond Bachand leaves politics

Quebec's former finance minister, Raymond Bachand, has announced his retirement from politics.

His exit comes five months after he lost the Quebec Liberal leadership race to Philippe Couillard, finishing a disappointing third.

Bachand had been minister of economic development, then finance, through five turbulent years during which he implemented a stimulus program and drew the wrath of student protesters with tuition hikes.

Before his career as an elected politician, Bachand was a corporate executive, a lawyer, a founding member of Oxfam Quebec, andreceived a doctoratefrom the Harvard Business School.

He had also been a prominent member of the Parti Qubcois, serving as a staffer in Ren Lvesque's premier's office and holding a formal role in the pro-independence "Yes" sideof the 1980 referendum.

The 65-year-old becomes the second Opposition Liberal MNA to quit in recent weeks, following Emmanuel Dubourg who resigned to run in a federal by-election.

Both are expected to claim severance pay.

Coalition Avenir Qubec leader, Franois Legault, said he believeswithout Bachand, the Liberal Party's economic leadership is shaky.

"When I look at the remaining [Liberal]economic team, I'm very proud of mine and I don't think that[theLiberals] isa good team," said Legault.

Former premier Jean Charest called Bachand's departure a great loss.