The minister of finance (french: ministre des Finances) is the

minister of the Crown Minister of the Crown is a formal constitutional term used in Commonwealth realms to describe a minister of the reigning sovereign or viceroy. The term indicates that the minister serves at His Majesty's pleasure, and advises the sovereign or ...

in the

Canadian Cabinet The Cabinet of Canada (french: Cabinet du Canada) is a body of ministers of the Crown that, along with the Canadian monarch, and within the tenets of the Westminster system, forms the government of Canada. Chaired by the prime minister, the Ca ...

who is responsible for overseeing the Department of Finance and presenting the federal government's budget each year. It is one of the most important positions in the Cabinet.

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 ...

serves as the 40th and current finance minister, assuming the role in August 2020 following the resignation of

Bill Morneau William Francis Morneau Jr. (born October 7, 1962) is a Canadian businessman and former Liberal Party politician who served as minister of finance and member of Parliament (MP) for Toronto Centre from 2015 to 2020. Morneau was executive chair ...

. She concurrently serves as the deputy prime minister of Canada. Because of the prominence and responsibility of this cabinet position, it is not uncommon for former ministers of finance to later become

prime minister A prime minister, premier or chief of cabinet is the head of the cabinet and the leader of the ministers in the executive branch of government, often in a parliamentary or semi-presidential system. Under those systems, a prime minister is not ...

Charles Tupper Sir Charles Tupper, 1st Baronet, (July 2, 1821 – October 30, 1915) was a Canadian Father of Confederation who served as the sixth prime minister of Canada from May 1 to July 8, 1896. As the premier of Nova Scotia from 1864 to 1867, he led N ...

R. B. Bennett Richard Bedford Bennett, 1st Viscount Bennett, (July 3, 1870 – June 26, 1947), was a Canadian lawyer, businessman, philanthropist, and politician who served as the 11th prime minister of Canada from 1930 to 1935. Bennett was born in ...

, John Turner,

Jean Chrétien Joseph Jacques Jean Chrétien (; born January 11, 1934) is a Canadian lawyer and politician who served as the 20th prime minister of Canada from 1993 to 2003. Born and raised in Shawinigan Falls, Quebec, Chrétien is a law graduate from Uni ...

, and

Paul Martin Paul Edgar Philippe Martin (born August 28, 1938), also known as Paul Martin Jr., is a Canadian lawyer and politician who served as the 21st prime minister of Canada and the leader of the Liberal Party of Canada from 2003 to 2006. The son o ...

all became prime minister after previously serving as minister of finance.

Responsibilities

In addition to being the head of the Department of Finance, the minister of finance is also the minister responsible for: *

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 ...

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 *

Canada Pension Plan Investment Board The Canada Pension Plan Investment Board (CPPIB; french: Office d'investissement du régime de pensions du Canada), operating as CPP Investments (french: Investissements RPC), is a Canadian Crown corporation established by way of the 1997 ''Cana ...

* Canadian International Trade Tribunal * Office of the Superintendent of Financial Institutions * Financial Transactions and Reports Analysis Centre of Canada *Mission to the

International Monetary Fund The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster globa ...

(serving as "Governor" voter) *Serving as a permanent member of the Treasury Board of Canada

List of ministers

Key:

References

External links

Department of Finance Canada
{{Cabinet of Canada

Finance Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of fina ...

Department of Finance (Canada)