Minister of Finance (Canada)

Minister in the Cabinet of Canada

Minister of Finance

Ministre des Finances

Incumbent
François-Philippe Champagne

since March 14, 2025

Department of Finance
Style| The Honourable
Member of|

* Parliament
* Privy Council
* Cabinet
* Treasury Board

[1]
Reports to|

* Parliament
* Prime Minister

[2]
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$299,900 (2024)[3]
Website| fin.canada.ca

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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.

François-Philippe Champagne is the 42nd and current finance minister, assuming the role March 14, 2025 as a member of the new 30th Canadian Ministry of Mark Carney.

## Responsibilities

[edit]

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[4]

## List of ministers

[edit]

Key:

Liberal Party of Canada

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

Conservative Party of Canada

No.  | Portrait  | 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)
May 1, 1896 | July 8, 1896  | 7 (Tupper)
–  |  | Vacant | July 8, 1896 | July 20, 1896  | —  | 8 (Laurier)
9  |  | William Stevens Fielding
(1st time)  | July 20, 1896 | October 6, 1911  | Liberal
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)
July 10, 1920 | December 29, 1921  | 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
–  |  | 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)
(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
(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)
(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
November 15, 1948 | June 30, 1954  | 17 (St. Laurent)
19  |  | Walter Harris | July 1, 1954 | June 21, 1957  | Liberal
20  |  | Donald Fleming | June 21, 1957 | August 9, 1962  | Progressive Conservative | 18 (Diefenbaker)
21  |  | George Nowlan | August 9, 1962 | April 22, 1963  | Progressive Conservative
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
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
June 30, 1984 | September 17, 1984  | 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
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
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
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 | March 14, 2025  | Liberal
42  |  | François-Philippe Champagne | March 14, 2025 | Incumbent  | Liberal  | 30 (M. Carney)

## Associate Minister of Finance

[edit]

Associate Minister of Finance

Ministre associé des Finances

Incumbent
Vacant

since July 26, 2023

Department of Finance
Style| The Honourable
Member of|

* Parliament
* Privy Council
* Cabinet

[5]
Reports to|

* Parliament
* Prime Minister

[6]
Appointer| Monarch (represented by the governor general)
on the advice of the prime minister
Term length| At His Majesty's pleasure
Inaugural holder| Mona Fortier
Salary| CA$269,800 (2019)[7]
Website| fin.canada.ca

The associate minister of finance (French: ministre associé des finances) was a member of the Canadian Cabinet who is responsible for various files within the Department of Finance Canada as assigned by the minister of finance.

This portfolio was introduced in the 29th Canadian ministry under Prime Minister Justin Trudeau.

Minister  | Tenure  | Prime Minister

|
|

| Mona Fortier[8] | 20 November 2019  | 26 October 2021  | 29 (J. Trudeau)
Randy Boissonnault | 26 October 2021  | 26 July 2023

## See also

[edit]

* Canadian federal budget

## References

[edit]

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.
3. ^ "Indemnities, Salaries and Allowances". April 1, 2024. Retrieved March 15, 2025.
4. ^ 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)
5. ^ "The Canadian Parliamentary system - Our Procedure - House of Commons". www.ourcommons.ca. Retrieved April 20, 2020.
6. ^ "Review of the Responsibilities and Accountabilities of Ministers and Senior Officials" (PDF). Archived (PDF) from the original on December 5, 2019.
7. ^ "Indemnities, Salaries and Allowances". Library of Parliament. April 11, 2018. Archived from the original on June 1, 2017. Retrieved September 21, 2017.
8. ^ "Who's who in Justin Trudeau's 2019 cabinet". Archived from the original on November 20, 2019.

## External links

[edit]

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

* v
* t
* e

Ministers of finance of Canada

* Galt
* Rose
* Hincks
* Tilley
* Cartwright
* Tilley
* McLelan
* Tupper
* Foster
* Bowell (Acting)
* Foster
* Fielding
* White
* Drayton (Acting)
* Fielding
* Robb
* Bennett
* Robb
* Dunning
* Bennett
* Rhodes
* Dunning
* Ralston
* Ilsley
* Abbott
* Harris
* Fleming
* Nowlan
* Gordon
* Sharp
* Benson
* Turner
* Drury (Acting)
* Macdonald
* Chrétien
* Crosbie
* MacEachen
* Lalonde
* Wilson
* Mazankowski
* Loiselle
* Martin
* Manley
* Goodale
* Flaherty
* Oliver
* Morneau
* Freeland
* LeBlanc
* Champagne

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