Minister of Finance | |
---|---|
Ministre des Finances | |
Department of Finance | |
Style | The Honourable |
Member of | [2] |
Reports to | [3] |
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)[4] |
Website | fin |
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 is the 40th and current finance minister, assuming the role in August 2020 following the resignation of Bill Morneau.[5] She concurrently is the deputy prime minister of Canada.
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.