Federal Finance Ministry

Bill Morneau

Roles and Responsibilities of the Minister

  • Responsible for presenting the Federal Budget.
  • Represents Canada in worldwide groups, for example G20.
  • Ensures a healthy Canadian economy by developing good policies.
  • Oversees the Bank of Canada.
  • Gives good economic advice to the government.

Roles and Responsibilities of the Ministry

  • Managing federal borrowing.
  • Preparing the federal budget .
  • Preparing financial reports, policy, and legislation.
  • Developing tax policies.
  • Giving financial support to provinces/territories.

What Other Ministries Do They Work With

  • The Finance Ministry works with almost all other ministries.
  • They work with the National Defence Ministry to give them a budget for new planes, ships, etc.
  • They worked with the Ministry of Immigration, Refugees, and Citizenship. For example to determine how many Syrian refugees we could take.
  • They work with the Health Ministry to create a budget to take care of Canadians health care.
  • They work with the Ministry of Families, Children, and Social Development as they provide Employment Insurance and Old Age Pension.

How They Affect the General Population

  • They determine our quality of life by giving money to other ministries that help us.
  • Ensures citizens are financially stable by making good decisions for our country.
  • Puts help in place for people who need it, for example child and elder care.
  • Ensures our security and wellness with national defence and public safety.
  • Helps us with education and creating jobs.

Additional Information

  • Bill Morneau was Ontario's finance minister.
  • He took over from Joe Oliver in 2015 as the federal finance minister.
  • It is not uncommon for former finance ministers to become prime minister.
  • The first federal finance minister was Alexander Galt on July 1st, 1867.
  • Bill Morneau is Canada's 39th federal finance minister.