B.C. businessmen Andrew Saxton and Rick Peterson seek leadership of federal Conservatives

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      One year ago, Andrew Saxton lost his North Vancouver seat in Parliament by 19,157 votes to Liberal newcomer Jonathan Wilkinson.

      It was a resounding defeat for Saxton, a businessman who had represented the riding since 2008.

      In fact, Wilkinson's vote total more than doubled what Saxton received—a shocking repudiation after Saxton had helped deliver $49.4 million in federal funding for the $101.6-million Low Level Road Project.

      Despite this humiliation at the polls, Saxton has announced his intention to seek the federal Conservative leadership—and he issued a news release about this on the first anniversary of his defeat.

      During nearly eight years as an MP, Saxton was parliamentary secretary to two Conservative finance ministers and to the president of the treasury board.

      Prior to entering politics, he worked in the banking sector for 16 years.

      Saxton won't have any difficulties meeting the financial requirements of a leadership race, unlike MP Tony Clement, who recently dropped out.

      The former North Vancouver MP is the son of developer and financier Andrew Saxton, the long-time chair of King George Development Corporation and creator of the Grouse Mountain skyride.

      Saxton isn't the only Vancouver-based businessman seeking the top job in the Conservative party.

      Rick Peterson, a long-time B.C. Conservative activist, announced that he's also running. In 2014, Peterson lost in his attempt to become B.C. Conservative leader.

      Businessman Rick Peterson lost the B.C. Conservative leadership race in 2014.