Minister of Finance (Canada)
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| Minister of Finance | |
|---|---|
| Ministre des Finances | |
| Department of Finance | |
| Style | The Honourable |
| Member of | [2] |
| Reports to | [3] |
| Appointer | Monarch (represented by the governor general) on the advice of the prime minister |
| Term length | At His Majesty's pleasure |
| Inaugural holder | Alexander Galt |
| Formation | July 1, 1867 |
| Salary | CA$269,800 (2019)[4] |
| Website | fin |
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| File:Canadian Royal Crown.svg |
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The minister of finance (French: ministre des Finances) is the minister of the Crown in the Canadian Cabinet, 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 is the 40th and current finance minister, assuming the role in August 2020 following the resignation of Bill Morneau.[5] She concurrently is 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. Charles Tupper, R. B. Bennett, John Turner, Jean Chrétien, and Paul Martin 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
- Canada Deposit Insurance Corporation
- Canada Development Investment Corporation
- Canada Pension Plan Investment Board
- 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 (serving as "Governor" voter)
- Serving as a permanent member of the Treasury Board of Canada[6]
List of ministers
Key:
Historical conservative parties: Liberal-Conservative, Conservative (historical), Unionist, National Liberal and Conservative, Progressive Conservative
| No. | Portrait | Name | Term of office | Political party | Ministry | |
|---|---|---|---|---|---|---|
| 1 | File:Sir Alexander Galt (cropped).jpg | Alexander Galt | July 1, 1867 | November 7, 1867 | Liberal-Conservative | 1 (Macdonald) |
| 2 | File:Sir John Rose.jpg | Sir John Rose | November 18, 1867 | September 29, 1869 | Liberal-Conservative | |
| 3 | File:Sir Francis Hincks.jpg | Sir Francis Hincks | October 9, 1869 | February 21, 1873 | Liberal-Conservative | |
| 4 | File:Samuel Leonard Tilley 1864.jpg | Samuel Leonard Tilley (1st time) |
February 22, 1873 | November 5, 1873 | Liberal-Conservative | |
| 5 | File:Richard John Cartwright.jpg | Richard John Cartwright | November 7, 1873 | October 16, 1878 | Liberal | 2 (Mackenzie) |
| (4) | File:Samuel Leonard Tilley 1864.jpg | Sir Samuel Leonard Tilley (2nd time) |
October 17, 1878 | November 11, 1885 | Liberal-Conservative | 3 (Macdonald) |
| – | Vacant | November 11, 1885 | December 10, 1885 | — | ||
| 6 | File:Archibald Woodbury McLelan.jpg | Archibald McLelan | December 10, 1885 | January 27, 1887 | Conservative (historical) | |
| 7 | File:Tupper Portrait.jpg | Sir Charles Tupper | January 27, 1887 | May 22, 1888 | Conservative (historical) | |
| 8 | File:George Eulas Foster.jpg | George Foster (1st time) |
May 29, 1888 | June 6, 1891 | Conservative (historical) | |
| June 16, 1891 | November 24, 1892 | 4 (Abbott) | ||||
| December 5, 1892 | December 12, 1894 | 5 (Thompson) | ||||
| December 21, 1894 | January 6, 1896 | 6 (Bowell) | ||||
| – | File:SirMackenzieBowell.jpg | Mackenzie Bowell (Acting) |
January 6, 1896 | January 15, 1896 | Conservative (historical) | |
| (8) | File:George Eulas Foster.jpg | George Foster (2nd time) |
January 15, 1896 | April 27, 1896 | Conservative (historical) | |
| May 1, 1896 | July 8, 1896 | 7 (Tupper) | ||||
| – | Vacant | July 8, 1896 | July 20, 1896 | — | 8 (Laurier) | |
| 9 | File:William Stevens Fielding, premier of Nova Scotia.jpg | William Stevens Fielding (1st time) |
July 20, 1896 | October 6, 1911 | Liberal | |
| 10 | File:Sir William Thomas White.jpg | Sir Thomas White | October 10, 1911 | August 2, 1919 | Conservative (historical) | 9•10 (Borden) |
| 11 | File:Henry Lumley Drayton.jpg | Sir Henry Drayton (1st time) |
August 2, 1919 | July 10, 1920 | Conservative (historical) | |
| July 10, 1920 | December 29, 1921 | 11 (Meighen) | ||||
| (9) | File:William Stevens Fielding, premier of Nova Scotia.jpg | William Stevens Fielding (2nd time) |
December 29, 1921 | September 5, 1925 | Liberal | 12 (King) |
| 12 | File:James Alexander Robb.jpg | James Robb (1st time) |
September 5, 1925 | June 29, 1926 | Liberal | |
| – | File:Henry Lumley Drayton.jpg | Sir Henry Drayton (2nd time; Acting) |
June 29, 1926 | July 13, 1926 | Conservative (historical) | 13 (Meighen) |
| 13 | File:Richard Bedford Bennett.jpg | Richard Bedford Bennett (1st time) |
July 13, 1926 | September 25, 1926 | Conservative (historical) | |
| (12) | File:James Alexander Robb.jpg | James Robb (2nd time) |
September 25, 1926 | November 11, 1929 | Liberal | 14 (King) |
| 14 | File:People-Dunning.jpg | Charles Avery Dunning | November 26, 1929 | August 7, 1930 | Liberal | |
| (13) | File:Richard Bedford Bennett.jpg | Richard Bedford Bennett (2nd time) |
August 7, 1930 | February 2, 1932 | Conservative (historical) | 15 (Bennett) |
| 15 | File:Edgar Nelson Rhodes.jpg | Edgar Nelson Rhodes | February 3, 1932 | October 24, 1935 | Conservative (historical) | |
| (14) | File:People-Dunning.jpg | Charles Avery Dunning (2nd time) |
October 24, 1935 | September 6, 1939 | Liberal | 16 (King) |
| 16 | File:James Ralston3.png | James Ralston | September 6, 1939 | July 4, 1940 | Liberal | |
| 17 | File:James Lorimer Ilsley1.jpg | James Lorimer Ilsley | July 8, 1940 | December 10, 1946 | Liberal | |
| 18 | File:Douglas Charles Abbott.jpg | Douglas Abbott | December 10, 1946 | November 15, 1948 | Liberal | |
| November 15, 1948 | June 30, 1954 | 17 (St. Laurent) | ||||
| 19 | File:Walter Edward Harris.jpg | Walter Harris | July 1, 1954 | June 21, 1957 | Liberal | |
| 20 | File:Donald Fleming.jpg | Donald Fleming | June 21, 1957 | August 9, 1962 | Progressive Conservative | 18 (Diefenbaker) |
| 21 | File:George Clyde Nowlan.jpg | George Nowlan | August 9, 1962 | April 22, 1963 | Progressive Conservative | |
| 22 | File:Walter L. Gordon sitting on the corner of a desk (F0563 fl0036 it0002) (cropped).jpg | Walter L. Gordon | April 22, 1963 | November 11, 1965 | Liberal | 19 (Pearson) |
| 23 | File:Mitchell Sharp 1962 Toronto Star (Restored) (cropped 3-4).jpg | Mitchell Sharp | November 11, 1965 (Acting until Dec.18) |
April 20, 1968 | Liberal | |
| 24 | File:Edgar John Benson.jpg | Edgar Benson | April 20, 1968 | January 28, 1972 | Liberal | 20 (P. E. Trudeau) |
| 25 | File:Ronald Reagan and John Turner 1987 crop (cropped).jpg | John Turner | January 28, 1972 | September 10, 1975 | Liberal | |
| – | File:No image.svg | Charles Drury (Acting) |
September 10, 1975 | September 26, 1975 | Liberal | |
| 26 | File:No image.svg | Donald Stovel Macdonald | September 26, 1975 | September 16, 1977 | Liberal | |
| 27 | File:Jean Chrétien1.jpg | Jean Chrétien | September 16, 1977 | June 4, 1979 | Liberal | |
| 28 | File:Crosbie 1983-2 crop.jpg | John Crosbie | June 4, 1979 | March 3, 1980 | Progressive Conservative | 21 (Clark) |
| 29 | File:Allan MacEachen.jpg | Allan MacEachen | March 3, 1980 | September 10, 1982 | Liberal | 22 (P. E. Trudeau) |
| 30 | File:No image.svg | Marc Lalonde | September 10, 1982 | June 30, 1984 | Liberal | |
| June 30, 1984 | September 17, 1984 | 23 (Turner) | ||||
| 31 | File:Diplomat Michael Wilson.png | Michael Wilson | September 17, 1984 | April 21, 1991 | Progressive Conservative | 24 (Mulroney) |
| 32 | File:No image.svg | Don Mazankowski | April 21, 1991 | June 25, 1993 | Progressive Conservative | |
| 33 | File:No image.svg | Gilles Loiselle | June 25, 1993 | November 4, 1993 | Progressive Conservative | 25 (Campbell) |
| 34 | File:Paul Martin.jpg | Paul Martin | November 4, 1993 | June 2, 2002 | Liberal | 26 (Chrétien) |
| 35 | File:John Manley IMF.jpg | John Manley | June 2, 2002 | December 12, 2003 | Liberal | |
| 36 | File:Ralph Goodale free alternative.jpg | Ralph Goodale | December 12, 2003 | February 6, 2006 | Liberal | 27 (Martin) |
| 37 | File:Jim Flaherty 2007.JPG | Jim Flaherty | February 6, 2006 | March 18, 2014 | Conservative | 28 (Harper) |
| 38 | File:Joe Oliver.JPG | Joe Oliver | March 19, 2014 | November 4, 2015 | Conservative | |
| 39 | File:Bill Morneau 2015.jpg | Bill Morneau | November 4, 2015 | August 17, 2020 | Liberal | 29 (J. Trudeau) |
| 40 | File:Chrystia Freeland in Ukraine - 2017 (cropped).jpg | Chrystia Freeland | August 18, 2020[1] | Incumbent | Liberal | |
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References
- ↑ 1.0 1.1 Aiello, Rachel (2020-08-18). "PM to name Freeland finance minister, replacing Morneau". CTV News.
- ↑ "The Canadian Parliamentary system - Our Procedure - House of Commons". www.ourcommons.ca. Retrieved 2020-04-20.
- ↑ "Review of the Responsibilities and Accountabilities of Ministers and Senior Officials" (PDF). Archived (PDF) from the original on December 5, 2019.
- ↑ "Indemnities, Salaries and Allowances". Library of Parliament. April 11, 2018. Archived from the original on June 1, 2017. Retrieved September 21, 2017.
- ↑ Kirby, Jason (18 August 2020). "Chrystia Freeland appointed Canada's finance minister". Financial Times. Archived from the original on 2022-12-10. Retrieved 2020-11-04.
- ↑ Jan 19, Kelsey Johnson Published on; 2017 2:26pm (2017-01-19). "Treasury Board membership gets shuffled". iPolitics. Retrieved 2020-11-04.
{{cite web}}: CS1 maint: numeric names: authors list (link)
External links
- Department of Finance Canada Archived 2010-02-08 at the Wayback Machine