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Minister for Finance (Australia)

From Wikipedia - Reading time: 9 min
Not to be confused with Treasurer of Australia.

Minister for Finance
Commonwealth Coat of Arms
Flag of Australia
since 23 May 2022 (2022-05-23)
Department of Finance
StyleThe Honourable
AppointerGovernor-General
on the advice of the prime minister
Inaugural holderPhillip Lynch
Formation7 December 1976 (1976-12-07)
Websitewww.financeminister.gov.au

The Minister for Finance in the Government of Australia is responsible for monitoring government expenditure and financial management. The current minister is Senator Katy Gallagher who has held the position since May 2022.

In the Government of Australia, the minister supplements the role of the Treasurer, being responsible for areas such as government expenditure, financial management, and the operations of government. The minister administers the portfolio through the Department of Finance.

The Finance Minister is in effect the deputy Treasurer (not to be confused with the Assistant Treasurer), as the Finance Minister acts as the Treasurer in the Treasurer's absence. Unlike the Treasurer, who by convention has been a member of the House of Representatives, the Finance Minister may come from either House of Parliament.

List of ministers

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The portfolio was first created in 1977 by Malcolm Fraser's Liberal Party of Australia government as Minister for Finance. It was subsequently renamed Minister for Finance and Administration by John Howard's government in 1997, and as Minister for Finance and Deregulation by Kevin Rudd's government in 2007, then returning to Minister for Finance under Tony Abbott in 2013. It took on its current name under Scott Morrison in 2018; the Second Morrison Ministry removed Public Service from the portfolio in May 2019. The following individuals have been appointed as Minister for Finance or any precedent titles:[1]

Notwithstanding Philip Lynch, John Howard and Wayne Swan who were Treasurers whilst serving as Finance Minister, two Finance Ministers who were from the House of Representatives, John Dawkins and Ralph Willis, then served as Treasurer. In addition John Fahey (served 1996-2001) had previously served as Treasurer of New South Wales when he was also Premier of that state and current minister Katy Gallagher had previously served as Treasurer of the Australian Capital Territory including when she was also the territory Chief Minister.

Order Minister Party affiliation Prime Minister Ministerial title Term start Term end Term in office
1 Phillip Lynch   Liberal Fraser Minister for Finance 7 December 1976 (1976-12-07) 19 November 1977 (1977-11-19) 347 days
2 Eric Robinson 20 November 1977 (1977-11-20) 23 February 1979 (1979-02-23) 1 year, 95 days
3 John Howard 23 February 1979 (1979-02-23) 27 February 1979 (1979-02-27) 4 days
n/a Eric Robinson 27 February 1979 (1979-02-27) 3 November 1980 (1980-11-03) 1 year, 250 days
4 Dame Margaret Guilfoyle 3 November 1980 (1980-11-03) 11 March 1983 (1983-03-11) 2 years, 128 days
5 John Dawkins Labor Hawke 11 March 1983 (1983-03-11) 13 December 1984 (1984-12-13) 1 year, 277 days
6 Peter Walsh 13 December 1984 (1984-12-13) 4 April 1990 (1990-04-04) 5 years, 112 days
7 Ralph Willis 4 April 1990 (1990-04-04) 9 December 1991 (1991-12-09) 1 year, 249 days
8 Kim Beazley 9 December 1991 (1991-12-09) 20 December 1991 (1991-12-20) 18 days
Keating 20 December 1991 (1991-12-20) 27 December 1991 (1991-12-27)
n/a Ralph Willis 27 December 1991 (1991-12-27) 23 December 1993 (1993-12-23) 1 year, 361 days
n/a Kim Beazley 23 December 1993 (1993-12-23) 11 March 1996 (1996-03-11) 2 years, 79 days
9 John Fahey Liberal Howard 11 March 1996 (1996-03-11) 9 October 1997 (1997-10-09) 5 years, 260 days
Minister for Finance and Administration 9 October 1997 (1997-10-09) 26 November 2001 (2001-11-26)
10 Nick Minchin 26 November 2001 (2001-11-26) 3 December 2007 (2007-12-03) 6 years, 7 days
11 Lindsay Tanner Labor Rudd Minister for Finance and Deregulation 3 December 2007 (2007-12-03) 24 June 2010 (2010-06-24) 2 years, 274 days
Gillard 24 June 2010 (2010-06-24) 3 September 2010 (2010-09-03)
12 Wayne Swan 3 September 2010 (2010-09-03) 14 September 2010 (2010-09-14) 11 days
13 Penny Wong 14 September 2010 (2010-09-14) 1 July 2013 (2013-07-01) 3 years, 4 days
Rudd 1 July 2013 (2013-07-01) 18 September 2013 (2013-09-18)
14 Mathias Cormann1 Liberal Abbott Minister for Finance 18 September 2013 (2013-09-18) 15 September 2015 (2015-09-15) 7 years, 42 days
Turnbull 15 September 2015 (2015-09-15) 23 August 2018 (2018-08-23)
Morrison Minister for Finance and the Public Service 28 August 2018 (2018-08-28) 29 May 2019 (2019-05-29)
Minister for Finance 29 May 2019 (2019-05-29) 30 October 2020 (2020-10-30)
n/a Scott Morrison1 30 March 2020 (2020-03-30) 23 May 2022 (2022-05-23) 2 years, 54 days
15 Simon Birmingham1 30 October 2020 (2020-10-30) 1 year, 205 days
16 Katy Gallagher Labor Albanese 23 May 2022 (2022-05-23) Incumbent 2 years, 183 days
1 Morrison was appointed as Minister for Finance by the Governor-General on Morrison's advice in March 2020, with both Morrison and Cormann holding the position of Minister for Finance until October 2020, and then Morrison and Birmingham until May 2022. However, the appointment of Morrison was not made public until August 2022.

Former ministerial portfolios

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List of ministers for administrative services

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The first minister responsible for Administrative Services was Fred Daly, although the portfolio was titled Minister for Services and Property from December 1972 until October 1975. The portfolio was abolished with the resignation of David Jull on 25 September 1997 and its responsibilities were absorbed into the portfolio of Finance and Administration on 6 October 1997. The following individuals have been appointed as Minister for Administrative Services, or any precedent titles:[1][2]

Order Minister Party affiliation Prime Minister Ministerial title Term start Term end Term in office
1 Fred Daly   Labor Whitlam Minister for Services and Property 19 December 1972 (1972-12-19) 7 October 1975 (1975-10-07) 2 years, 327 days
  Minister for Administrative Services 7 October 1975 (1975-10-07) 11 November 1975 (1975-11-11)
2 Tom Drake-Brockman   National Fraser 12 November 1975 (1975-11-12) 22 December 1975 (1975-12-22) 41 days
3 Reg Withers   Liberal 22 December 1975 (1975-12-22) 7 August 1978 (1978-08-07) 2 years, 228 days
4 Peter Durack   7 August 1978 (1978-08-07) 25 August 1978 (1978-08-25) 18 days
5 Fred Chaney   25 August 1978 (1978-08-25) 5 December 1978 (1978-12-05) 102 days
6 John McLeay   5 December 1978 (1978-12-05) 3 November 1980 (1980-11-03) 1 year, 334 days
7 Kevin Newman   3 November 1980 (1980-11-03) 11 March 1983 (1983-03-11) 2 years, 128 days
8 John Brown   Labor Hawke 11 March 1983 (1983-03-11) 13 December 1984 (1984-12-13) 1 year, 277 days
9 Tom Uren   Minister for Local Government and Administrative Services 13 December 1984 (1984-12-13) 24 July 1987 (1987-07-24) 2 years, 223 days
10 Stewart West   Minister for Administrative Services 24 July 1987 (1987-07-24) 4 April 1990 (1990-04-04) 2 years, 254 days
11 Nick Bolkus   4 April 1990 (1990-04-04) 20 December 1991 (1991-12-20) 2 years, 354 days
  Keating 20 December 1991 (1991-12-20) 24 March 1993 (1993-03-24)
12 Bob McMullan   Minister for the Arts and Administrative Services 24 March 1993 (1993-03-24) 30 January 1994 (1994-01-30) 1 year, 1 day
  Minister for Administrative Services 30 January 1994 (1994-01-30) 25 March 1994 (1994-03-25)
13 Frank Walker   25 March 1994 (1994-03-25) 11 March 1996 (1996-03-11) 1 year, 352 days
14 David Jull   Liberal Howard 11 March 1996 (1996-03-11) 25 September 1997 (1997-09-25) 1 year, 198 days
15 John Fahey Minister for Finance and Administration 9 October 1997 (1997-10-09) 26 November 2001 (2001-11-26) 4 years, 48 days
16 Nick Minchin 26 November 2001 (2001-11-26) 3 December 2007 (2007-12-03) 6 years, 7 days

List of assistant ministers for finance

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The following individuals have been appointed as Assistant Minister for, or any precedent titles:[1][2]

Order Minister Party affiliation Prime Minister Ministerial title Term start Term end Term in office
1 David Coleman   Liberal Turnbull Assistant Minister for Finance 20 December 2017 (2017-12-20) 28 August 2018 (2018-08-28) 251 days

See also

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References

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  1. ^ a b c "Ministries and Cabinets". 43rd Parliamentary Handbook: Historical information on the Australian Parliament. Parliament of Australia. 2010. Archived from the original on 13 August 2014. Retrieved 9 July 2013.
  2. ^ a b Turnbull, Malcolm (19 December 2017). "Ministerial Arrangements" (Press release). Government of Australia. Archived from the original on 13 March 2018. Retrieved 3 February 2018. David Coleman, who came to Parliament after a long career in business, is also elevated to the ministry as Assistant Minister for Finance.
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