Department of Finance Canada
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| Ministère des Finances Canada | |
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| Department overview | |
|---|---|
| Formed | July 1, 1867 |
| Type | Department responsible for
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| Jurisdiction | Government of Canada |
| Employees | 803 (March 2018)[1] |
| Annual budget | CA$94.1 billion (2018–19)[2] |
| Minister responsible | |
| Department executive |
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| Website | fin |
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) and the associate minister of finance (Randy Boissonnault since October 2021, concurrently serving as the minister of tourism). 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.[4]
Freeland announced her resignation as minister of finance on December 16, 2024.[5]
The department is headquartered in the James Michael Flaherty Building in downtown Ottawa at the corner of Elgin and Albert.
Branches and sub-agencies
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:
- Bank of Canada
- CPP Investment Board
- Office of the Superintendent of Financial Institutions
- Financial Consumer Agency of Canada
- Financial Transactions and Reports Analysis Centre of Canada
- Canada Deposit Insurance Corporation
- Canada Development Investment Corporation
- Royal Canadian Mint
Related legislation
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
- ^ "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.
- ^ https://www.canada.ca/en/department-finance/corporate/organizational-structure/bios/deputy-minister.html
- ^ 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
- Department of Finance Canada Archived 2010-02-08 at the Wayback Machine
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