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The Department of Finance Canada (French: Ministère des Finances Canada) is a central agency of the Government of Canada. The department assists the minister of finance 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.[3]
| Ministère des Finances Canada | |
 | |
| Department overview | |
|---|---|
| Formed | July 1, 1867 |
| Type | Department responsible for
|
| Jurisdiction | Government of Canada |
| Employees | 803 (March 2018)[1] |
| Annual budget | CA$94.1 billion (2018–19)[2] |
| Minister responsible | |
| Department executive |
|
| Website | fin |
The department is responsible to Parliament through the minister of finance (Dominic LeBlanc since December 2024)[4] and the associate minister of finance (Randy Boissonnault since October 2021, concurrently serving as the minister of tourism).[5] The day-to-day operations of the department are directed by the deputy minister of finance (a public servant). Michael Sabia served as deputy minister until his departure to head Hydro-Québec in May 2023. Chris Forbes was appointed Deputy Minister of Finance on September 11, 2023.[6]
Freeland announced her resignation as minister of finance on December 16, 2024.[7]
The department is headquartered in the James Michael Flaherty Building in downtown Ottawa at the corner of Elgin and Albert.
Branches and sub-agencies
editThe department is divided into several branches:
- Economic Policy Branch
- 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:
Related legislation
editActs 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
edit- ^ "GC InfoBase". www.tbs-sct.gc.ca. Retrieved 2020-11-04.
- ^ "GC InfoBase". www.tbs-sct.gc.ca. Retrieved 2020-11-04.
- ^ Smith, Alex (23 April 2009). "The Roles and Responsibilities of Central Agencies" (Background paper). Library of Parliament.
- ^ Al Mallees, Nojoud; Duggan, Kyle (2024-12-19). "Trudeau's 'fixer' Dominic LeBlanc steps up for prime minister in time of crisis". Toronto Star. The Canadian Press. Archived from the original on 2024-12-20. Retrieved 2024-12-20.
- ^ "Roles - Hon. Randy Boissonnault". House of Commons of Canada. Archived from the original on 2024-12-20. Retrieved 2024-12-20.
- ^ "Chris Forbes, Deputy Minister Department of Finance". Government of Canada. 2023-11-14. Archived from the original on 2023-12-01.
- ^ Major, Darren (2024-12-16). "Chrystia Freeland's unexpected resignation sparks stunned reactions from all sides". CBC News. Archived from the original on 2024-12-16. Retrieved 2024-12-16.
External links
edit- Department of Finance Canada Archived 2010-02-08 at the Wayback Machine