Suvarna Garge (Editor)

Minister of Finance (Canada)

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Style
  
The Honourable

Inaugural holder
  
Alexander Galt

Member of
  
Cabinet Privy Council

Formation
  
July 1, 1867

Minister of Finance (Canada)

Appointer
  
Governor General of Canada

Term length
  
At Her Majesty's pleasure

The Minister of Finance (French: Ministre des Finances) is the Minister of the Crown in the Canadian Cabinet who is responsible each year for presenting the federal government's budget. It is one of the most important positions in the Cabinet.

Contents

Because of the prominence and responsibility on this cabinet position, it is not uncommon for former Finance Ministers to be elected Prime Minister. Charles Tupper, R. B. Bennett, John Turner, Jean Chrétien, and Paul Martin have all become Prime Minister after previously serving as Minister of Finance.

Responsibilities

In addition to being the head of the Department of Finance, the Minister is also the government’s lead in overseeing the:

  • 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, for which s/he is "Governor" voter

    • List of Ministers

    Key:

    References

    Minister of Finance (Canada) Wikipedia
    (Text) CC BY-SA