Minister of Finance (Canada)

Minister of Finance
Minister of Finance
Ministre des Finances
	Incumbent; Dominic LeBlanc; since December 16, 2024
	Department of Finance
Style	The Honourable
Member of	Parliament; Privy Council; Cabinet; Treasury Board;
Reports to	Parliament; Prime Minister;
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)
Website	fin.canada.ca

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 was the 40th and most recent finance minister, assuming the role in August 2020 following the resignation of Bill Morneau until her own resignation on December 16, 2024.^[4]

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^[5]

List of ministers

Key:

Liberal Party of Canada

Historical conservative parties: Liberal-Conservative, Conservative (historical), Unionist, National Liberal and Conservative, Progressive Conservative

Conservative Party of Canada

No.	Name	Term of office		Political party	Ministry
1	Alexander Galt	July 1, 1867	November 7, 1867	Liberal-Conservative	1 (Macdonald)
2	Sir John Rose	November 18, 1867	September 29, 1869	Liberal-Conservative
3	Sir Francis Hincks	October 9, 1869	February 21, 1873	Liberal-Conservative
4	Samuel Leonard Tilley (1st time)	February 22, 1873	November 5, 1873	Liberal-Conservative
5	Richard John Cartwright	November 7, 1873	October 16, 1878	Liberal	2 (Mackenzie)
(4)	Sir Samuel Leonard Tilley (2nd time)	October 17, 1878	November 11, 1885	Liberal-Conservative	3 (Macdonald)
–	Vacant	November 11, 1885	December 10, 1885	—
6	Archibald McLelan	December 10, 1885	January 27, 1887	Conservative (historical)
7	Sir Charles Tupper	January 27, 1887	May 22, 1888	Conservative (historical)
8	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)
–	Mackenzie Bowell (Acting)	January 6, 1896	January 15, 1896	Conservative (historical)
(8)	George Foster (2nd time)	January 15, 1896	April 27, 1896	Conservative (historical)
(8)	George Foster (2nd time)	May 1, 1896	July 8, 1896	Conservative (historical)	7 (Tupper)
–	Vacant	July 8, 1896	July 20, 1896	—	8 (Laurier)
9	William Stevens Fielding (1st time)	July 20, 1896	October 6, 1911	Liberal	8 (Laurier)
10	Sir Thomas White	October 10, 1911	August 2, 1919	Conservative (historical)	9•10 (Borden)
11	Sir Henry Drayton (1st time)	August 2, 1919	July 10, 1920	Conservative (historical)	9•10 (Borden)
11	Sir Henry Drayton (1st time)	July 10, 1920	December 29, 1921	Conservative (historical)	11 (Meighen)
(9)	William Stevens Fielding (2nd time)	December 29, 1921	September 5, 1925	Liberal	12 (King)
12	James Robb (1st time)	September 5, 1925	June 29, 1926	Liberal	12 (King)
–	Sir Henry Drayton (2nd time; Acting)	June 29, 1926	July 13, 1926	Conservative (historical)	13 (Meighen)
13	Richard Bedford Bennett (1st time)	July 13, 1926	September 25, 1926	Conservative (historical)	13 (Meighen)
(12)	James Robb (2nd time)	September 25, 1926	November 11, 1929	Liberal	14 (King)
14	Charles Avery Dunning	November 26, 1929	August 7, 1930	Liberal	14 (King)
(13)	Richard Bedford Bennett (2nd time)	August 7, 1930	February 2, 1932	Conservative (historical)	15 (Bennett)
15	Edgar Nelson Rhodes	February 3, 1932	October 24, 1935	Conservative (historical)	15 (Bennett)
(14)	Charles Avery Dunning (2nd time)	October 24, 1935	September 6, 1939	Liberal	16 (King)
16	James Ralston	September 6, 1939	July 4, 1940	Liberal
17	James Lorimer Ilsley	July 8, 1940	December 10, 1946	Liberal
18	Douglas Abbott	December 10, 1946	November 15, 1948	Liberal
18	Douglas Abbott	November 15, 1948	June 30, 1954	Liberal	17 (St. Laurent)
19	Walter Harris	July 1, 1954	June 21, 1957	Liberal	17 (St. Laurent)
20	Donald Fleming	June 21, 1957	August 9, 1962	Progressive Conservative	18 (Diefenbaker)
21	George Nowlan	August 9, 1962	April 22, 1963	Progressive Conservative	18 (Diefenbaker)
22	Walter L. Gordon	April 22, 1963	November 11, 1965	Liberal	19 (Pearson)
23	Mitchell Sharp	November 11, 1965 (Acting until Dec.18)	April 20, 1968	Liberal	19 (Pearson)
24	Edgar Benson	April 20, 1968	January 28, 1972	Liberal	20 (P. E. Trudeau)
25	John Turner	January 28, 1972	September 10, 1975	Liberal
–	Charles Drury (Acting)	September 10, 1975	September 26, 1975	Liberal
26	Donald Stovel Macdonald	September 26, 1975	September 16, 1977	Liberal
27	Jean Chrétien	September 16, 1977	June 4, 1979	Liberal
28	John Crosbie	June 4, 1979	March 3, 1980	Progressive Conservative	21 (Clark)
29	Allan MacEachen	March 3, 1980	September 10, 1982	Liberal	22 (P. E. Trudeau)
30	Marc Lalonde	September 10, 1982	June 30, 1984	Liberal	22 (P. E. Trudeau)
30	Marc Lalonde	June 30, 1984	September 17, 1984	Liberal	23 (Turner)
31	Michael Wilson	September 17, 1984	April 21, 1991	Progressive Conservative	24 (Mulroney)
32	Don Mazankowski	April 21, 1991	June 25, 1993	Progressive Conservative	24 (Mulroney)
33	Gilles Loiselle	June 25, 1993	November 4, 1993	Progressive Conservative	25 (Campbell)
34	Paul Martin	November 4, 1993	June 2, 2002	Liberal	26 (Chrétien)
35	John Manley	June 2, 2002	December 12, 2003	Liberal	26 (Chrétien)
36	Ralph Goodale	December 12, 2003	February 6, 2006	Liberal	27 (Martin)
37	Jim Flaherty	February 6, 2006	March 18, 2014	Conservative	28 (Harper)
38	Joe Oliver	March 19, 2014	November 4, 2015	Conservative	28 (Harper)
39	Bill Morneau	November 4, 2015	August 17, 2020	Liberal	29 (J. Trudeau)
40	Chrystia Freeland	August 18, 2020	December 16, 2024	Liberal
41	Dominic LeBlanc	December 16, 2024	Incumbent	Liberal

References

^ "The Canadian Parliamentary system - Our Procedure - House of Commons". www.ourcommons.ca. Retrieved April 20, 2020.
^ "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 (August 18, 2020). "Chrystia Freeland appointed Canada's finance minister". Financial Times. Archived from the original on December 10, 2022. Retrieved November 4, 2020.
^ Jan 19, Kelsey Johnson Published on; 2017 2:26pm (January 19, 2017). "Treasury Board membership gets shuffled". iPolitics. Retrieved November 4, 2020.{{cite web}}: CS1 maint: numeric names: authors list (link)

External links

Department of Finance Canada Archived 2010-02-08 at the Wayback Machine

[1] "The Canadian Parliamentary system - Our Procedure - House of Commons". www.ourcommons.ca. Retrieved April 20, 2020.

[2] "Review of the Responsibilities and Accountabilities of Ministers and Senior Officials" (PDF). Archived (PDF) from the original on December 5, 2019.

[salary-3] "Indemnities, Salaries and Allowances". Library of Parliament. April 11, 2018. Archived from the original on June 1, 2017. Retrieved September 21, 2017.

[4] Kirby, Jason (August 18, 2020). "Chrystia Freeland appointed Canada's finance minister". Financial Times. Archived from the original on December 10, 2022. Retrieved November 4, 2020.

[5] Jan 19, Kelsey Johnson Published on; 2017 2:26pm (January 19, 2017). "Treasury Board membership gets shuffled". iPolitics. Retrieved November 4, 2020.{{cite web}}: CS1 maint: numeric names: authors list (link)

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