Former B.C. finance minister Carole Taylor is resigning her seat in the provincial legislature so she can focus on her new job of chairing a federal economic advisory panel.

Taylor had planned to keep her Vancouver seat until the provincial election in May but says she wants to devote her full attention to the panel.

She says these are difficult times for Canada's economy and she's honoured to be on the advisory panel.

Taylor also says she's eager to bring to the panel some of the lessons she's learned in B.C., where she delivered four surplus budgets.

Premier Campbell is praising Taylor, saying she served the province with distinction and commitment, and he supports her decision to join the federal panel.

Taylor was elected MLA in May 2005 after serving as chairwoman of the CBC and of the Vancouver Board of Trade after sitting as a Vancouver city councillor.