The Department of Finance Canada (french: Ministère des Finances Canada) is a central agency of the

Government of Canada The government of Canada (french: gouvernement du Canada) is the body responsible for the federal administration of Canada. A constitutional monarchy, the Crown is the corporation sole, assuming distinct roles: the executive, as the ''Crown ...

. The department assists the

minister of finance A finance minister is an executive or cabinet position in charge of one or more of government finances, economic policy and financial regulation. A finance minister's portfolio has a large variety of names around the world, such as "treasury", " ...

in developing the government's fiscal framework and advises the government on economic and financial issues. A principal role of the department is assisting the government in the development of its

annual budget A budget is a calculation play, usually but not always financial, for a defined period, often one year or a month. A budget may include anticipated sales volumes and revenues, resource quantities including time, costs and expenses, environmen ...

. The department is responsible to

Parliament In modern politics, and history, a parliament is a legislative body of government. Generally, a modern parliament has three functions: Representation (politics), representing the Election#Suffrage, electorate, making laws, and overseeing ...

through the

(

Chrystia Freeland Christina Alexandra Freeland (born August 2, 1968) is a Canadian politician serving as the tenth and current deputy prime minister of Canada since 2019 and the Minister of Finance (Canada), minister of finance since 2020. A member of the Libe ...

since August 2020, concurrently serving as the deputy prime minister of Canada) and the

associate minister of finance The associate minister of finance () is a member of the Canadian Cabinet who is responsible for various files within the Department of Finance Canada as assigned by the minister of finance. The incumbent is Randy Boissonnault, who also serves as ...

( Randy Boissonnault since October 2021, concurrently serving as the

minister of tourism The Minister of Tourism is the head of the governmental department that specializes in tourism, recreation and/or culture. The position exists in many different countries under several names: *Ministry of Tourism and Environment (Albania) * Minist ...

). The day-to-day operations of the department are directed by the deputy minister of finance (a

public servant The civil service is a collective term for a sector of government composed mainly of career civil servants hired on professional merit rather than appointed or elected, whose institutional tenure typically survives transitions of political leaders ...

). Michael Sabia served as deputy minister until his departure to head

Hydro-Québec Hydro-Québec is a public utility that manages the generation, transmission and distribution of electricity in the Canadian province of Quebec, as well as the export of power to portions of the Northeast United States. It was established by the ...

in May 2023. The department is headquartered in the James Michael Flaherty Building in downtown

Ottawa Ottawa (, ; Canadian French: ) is the capital city of Canada. It is located at the confluence of the Ottawa River and the Rideau River in the southern portion of the province of Ontario. Ottawa borders Gatineau, Quebec, and forms the core ...

at the corner of Elgin and Albert.

Branches and sub-agencies

The department is divided into several branches: * Economic and Fiscal Policy Branch * Economic Development and Corporate Finance Branch * Federal-Provincial Relations and Social Policy Branch * Financial Sector Policy Branch * International Trade and Finance Branch * Tax Policy Branch * Law Branch * Corporate Services Branch * Consultations and Communications Branch Some of the sub-agencies under the Department include: *

Bank of Canada The Bank of Canada (BoC; french: Banque du Canada) is a Crown corporation and Canada's central bank. Chartered in 1934 under the ''Bank of Canada Act'', it is responsible for formulating Canada's monetary policy,OECD. OECD Economic Surveys: Ca ...

* CPP Investment Board * Office of the Superintendent of Financial Institutions *

Financial Consumer Agency of Canada The Financial Consumer Agency of Canada (FCAC) is an agency of the Government of Canada that enforces consumer protection legislation, regulations and industry commitments by federally regulated financial entities. It also provides programs and i ...

* Financial Transactions and Reports Analysis Centre of Canada *

Canada Deposit Insurance Corporation The Canada Deposit Insurance Corporation (CDIC; french: Société d'assurance-dépôts du Canada) is a Canadian federal Crown Corporation created by Parliament in 1967 to provide deposit insurance to depositors in Canadian commercial banks and ...

* Canada Development Investment Corporation *

Royal Canadian Mint }) is the mint of Canada and a Crown corporation, operating under the ''Royal Canadian Mint Act''. The shares of the Mint are held in trust for the Crown in right of Canada. The Mint produces all of Canada's circulation coins, and manufactures ...

Related legislation

Acts and legislations under the Department: * ''Income Tax Act'' * ''Federal-Provincial Fiscal Arrangements Act'' * ''Customs Act'' * ''Customs Tariff Act'' * ''Excise Act'' * ''Excise Tax Act'' * ''Proceeds of Crime (Money Laundering) and Terrorist Financing Act'' * ''Income Tax Conventions Interpretation Act'' * ''Payment Clearing and Settlement Act'' * ''Financial Administration Act'' * ''Special Import Measures Act'' * ''Bretton Woods and Related Agreements Act'' * ''European Bank for Reconstruction and Development Agreement Act''

References

External links

Department of Finance Canada
{{DEFAULTSORT:Department Of Finance Canada Federal departments and agencies of Canada

Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...

Ministries established in 1867 1867 establishments in Canada