TORONTO - The widow of former federal finance minister Jim Flaherty is running for the leadership of Ontario's Progressive Conservatives.

Christine Elliott is looking to succeed Tim Hudak, who is stepping down following the crushing defeat of his party in the June 12 election.

Elliott, who is the deputy leader of the party, finished third when Hudak won the Tory leadership race in 2009.

Hudak will step down when the legislature returns on July 2.

Educated as a lawyer, Elliott entered politics when she won a seat in Whitby, east of Toronto, in the March 2006 byelection.

Other names that have been floated as potential leadership contenders are Tory labour critic Monte McNaughton, Tory energy critic Lisa MacLeod, Tory finance critic Vic Fedeli and party president Richard Ciano.