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{{Infobox government agency
{{Infobox government agency
| agency_name = Department of Finance Canada
| agency_name = Department of Finance Canada
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| employees = 803 (March 2018)<ref>{{Cite web|title=GC InfoBase|url=https://www.tbs-sct.gc.ca/ems-sgd/edb-bdd/index-eng.html#orgs/dept/124/infograph/people|access-date=2020-11-04|website=www.tbs-sct.gc.ca|language=en}}</ref>
| employees = 803 (March 2018)<ref>{{Cite web|title=GC InfoBase|url=https://www.tbs-sct.gc.ca/ems-sgd/edb-bdd/index-eng.html#orgs/dept/124/infograph/people|access-date=2020-11-04|website=www.tbs-sct.gc.ca|language=en}}</ref>
| budget = [[CA$]]94.1 billion (2018–19)<ref>{{Cite web|title=GC InfoBase|url=https://www.tbs-sct.gc.ca/ems-sgd/edb-bdd/index-eng.html#orgs/dept/124/infograph/financial|access-date=2020-11-04|website=www.tbs-sct.gc.ca|language=en}}</ref>
| budget = [[CA$]]94.1 billion (2018–19)<ref>{{Cite web|title=GC InfoBase|url=https://www.tbs-sct.gc.ca/ems-sgd/edb-bdd/index-eng.html#orgs/dept/124/infograph/financial|access-date=2020-11-04|website=www.tbs-sct.gc.ca|language=en}}</ref>
| minister1_name = [[Chrystia Freeland]]
| minister1_name = [[Dominic LeBlanc]]
| minister1_pfo = [[Minister of Finance (Canada)|Minister of Finance]]
| minister1_pfo = [[Minister of Finance (Canada)|Minister of Finance]]
| deputyminister1_name =
| deputyminister1_name =
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The '''Department of Finance Canada''' ({{langx|fr|Ministère des Finances Canada}}) is a central agency of the [[Government of Canada]]. The department assists the [[Minister of Finance (Canada)|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 [[Budget|annual budget]].<ref name=":0">{{Cite web|last=Smith|first=Alex|date=23 April 2009|title=The Roles and Responsibilities of Central Agencies|url=https://central.bac-lac.gc.ca/.item?id=2009-01-eng&op=pdf&app=Library|publisher=[[Library of Parliament]]|type=Background paper}}</ref>
The '''Department of Finance Canada''' ({{langx|fr|Ministère des Finances Canada}}) is a central agency of the [[Government of Canada]]. The department assists the [[Minister of Finance (Canada)|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 [[Budget|annual budget]].<ref name=":0">{{Cite web|last=Smith|first=Alex|date=23 April 2009|title=The Roles and Responsibilities of Central Agencies|url=https://central.bac-lac.gc.ca/.item?id=2009-01-eng&op=pdf&app=Library|publisher=[[Library of Parliament]]|type=Background paper}}</ref>


The department is [[Responsible government|responsible]] to [[Parliament of Canada|Parliament]] through the [[Minister of Finance (Canada)|minister of finance]] ([[Chrystia Freeland]] since August 2020,<ref>{{Cite news|title=Chrystia Freeland appointed Canada's finance minister|url=https://www.ft.com/content/5f80ad4c-bf58-408f-bdd5-ba5e583557a7 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/5f80ad4c-bf58-408f-bdd5-ba5e583557a7 |archive-date=2022-12-10 |url-access=subscription|access-date=2020-11-04|newspaper=Financial Times|date=18 August 2020 }}</ref> concurrently serving as the [[deputy prime minister of Canada]]) and the [[Associate Minister of Finance|associate minister of finance]] ([[Randy Boissonnault]] since October 2021, concurrently serving as the [[Minister of Tourism (Canada)|minister of tourism]]). The day-to-day operations of the department are directed by the [[Deputy minister (Canada)|deputy minister]] of finance (a [[Public Service of Canada|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.<ref>https://www.canada.ca/en/department-finance/corporate/organizational-structure/bios/deputy-minister.html</ref>
The department is [[Responsible government|responsible]] to [[Parliament of Canada|Parliament]] through the [[Minister of Finance (Canada)|minister of finance]] ([[Dominic LeBlanc]] since December 2024)<ref>{{Cite web |last=Al Mallees |first=Nojoud |last2=Duggan |first2=Kyle |date=2024-12-19 |title=Trudeau’s ‘fixer’ Dominic LeBlanc steps up for prime minister in time of crisis |url=https://www.thestar.com/politics/federal/trudeaus-fixer-dominic-leblanc-steps-up-for-prime-minister-in-time-of-crisis/article_831d0a9f-b003-5e15-a429-62e9a2caf5eb.html |url-status=live |archive-url=https://web.archive.org/web/20241220072903/https://www.thestar.com/politics/federal/trudeaus-fixer-dominic-leblanc-steps-up-for-prime-minister-in-time-of-crisis/article_831d0a9f-b003-5e15-a429-62e9a2caf5eb.html |archive-date=2024-12-20 |access-date=2024-12-20 |website=[[Toronto Star]] |language=en |agency=[[The Canadian Press]]}}</ref> and the [[Associate Minister of Finance|associate minister of finance]] ([[Randy Boissonnault]] since October 2021, concurrently serving as the [[Minister of Tourism (Canada)|minister of tourism]]).<ref>{{Cite web |title=Roles - Hon. Randy Boissonnault |url=https://www.ourcommons.ca/members/en/randy-boissonnault(89147)/roles |url-status=live |archive-url=https://web.archive.org/web/20241220073215/https://www.ourcommons.ca/members/en/randy-boissonnault(89147)/roles |archive-date=2024-12-20 |access-date=2024-12-20 |website=[[House of Commons of Canada]]}}</ref> The day-to-day operations of the department are directed by the [[Deputy minister (Canada)|deputy minister]] of finance (a [[Public Service of Canada|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.<ref>{{Cite web |date=2023-11-14 |title=Chris Forbes, Deputy Minister Department of Finance |url=https://www.canada.ca/en/department-finance/corporate/organizational-structure/bios/deputy-minister.html |url-status=live |archive-url=https://web.archive.org/web/20231201044242/https://www.canada.ca/en/department-finance/corporate/organizational-structure/bios/deputy-minister.html |archive-date=2023-12-01 |website=[[Government of Canada]]}}</ref>

Freeland announced her resignation as minister of finance on December 16, 2024.<ref name=":1">{{Cite news |last=Major |first=Darren |date=2024-12-16 |title=Chrystia Freeland's unexpected resignation sparks stunned reactions from all sides |url=https://www.cbc.ca/news/politics/politicians-react-freeland-resignation-1.7411497 |url-status=live |archive-url=https://web.archive.org/web/20241216185915/https://www.cbc.ca/news/politics/politicians-react-freeland-resignation-1.7411497 |archive-date=2024-12-16 |access-date=2024-12-16 |work=[[CBC News]]}}</ref>


The department is headquartered in the [[Jim Flaherty|James Michael Flaherty]] Building in downtown [[Ottawa]] at the corner of Elgin and Albert.
The department is headquartered in the [[Jim Flaherty|James Michael Flaherty]] Building in downtown [[Ottawa]] at the corner of Elgin and Albert.

Latest revision as of 07:35, 20 December 2024

Department of Finance Canada
Ministère des Finances Canada
Department overview
FormedJuly 1, 1867
TypeDepartment responsible for
  • Economic and Fiscal Policy
  • Economic Development and Corporate Finance
  • Federal-Provincial Relations and Social Policy
  • Financial Sector Policy
  • International Trade and Finance
  • Tax Policy
  • Corporate Services
JurisdictionGovernment of Canada
Employees803 (March 2018)[1]
Annual budgetCA$94.1 billion (2018–19)[2]
Minister responsible
Department executive
  • Chris Forbes, Deputy Minister of Finance
Websitefin.canada.ca

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]

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

[edit]

The 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:

[edit]

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

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  1. ^ "GC InfoBase". www.tbs-sct.gc.ca. Retrieved 2020-11-04.
  2. ^ "GC InfoBase". www.tbs-sct.gc.ca. Retrieved 2020-11-04.
  3. ^ Smith, Alex (23 April 2009). "The Roles and Responsibilities of Central Agencies" (Background paper). Library of Parliament.
  4. ^ 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.
  5. ^ "Roles - Hon. Randy Boissonnault". House of Commons of Canada. Archived from the original on 2024-12-20. Retrieved 2024-12-20.
  6. ^ "Chris Forbes, Deputy Minister Department of Finance". Government of Canada. 2023-11-14. Archived from the original on 2023-12-01.
  7. ^ 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.
[edit]
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