The minister of finance 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.
The Department of Finance Canada is a central agency of the Government of Canada. The department assists the minister of finance in developing the government's fiscal framework and advises the government on economic and financial issues. A principal role of the department is assisting the government in the development of its annual budget.
James Michael Flaherty was a Canadian politician who served as the federal minister of finance from 2006 to 2014 under Conservative Prime Minister Stephen Harper.
The Canadian federal budget for the 2007–08 fiscal year was presented to the House of Commons of Canada by Finance Minister Jim Flaherty. Flaherty presented the 2007 budget on March 19, 2007. No income tax or GST cuts were announced but there were tax credits for some families with children under 18. The federal budget included $14 billion in new spending and $5.7 billion in tax cuts. This was the second budget of the 39th Canadian Parliament.
Anthony Charles Sousa is a Canadian politician who has served as the Member of Parliament from Mississauga-Lakeshore since December 12, 2022. He previously served as the Minister of Finance for Ontario from 2013 to 2018. A member of the Ontario Liberal Party, Sousa was elected to represent Missisuaga South in the Legislative Assembly of Ontario in 2007. He joined the provincial cabinet as the minister of labour in 2010 and became Ontario's minister of citizenship and immigration in 2011. In 2022, Sousa ran as the federal Liberal candidate in the Mississauga-Lakeshore by-election which was held on December 12, 2022. Sousa won the election, defeating 39 other candidates.
Christina Alexandra Freeland is a Canadian politician and journalist who has served as the member of Parliament (MP) for University—Rosedale since 2015. She previously served as the tenth deputy prime minister of Canada from 2019 to 2024. A member of the Liberal Party, she was first elected to the House of Commons of Canada in a by-election in 2013. First appointed to the Cabinet following the 2015 federal election, she has served in various posts including as the minister of finance from 2020 until her resignation from the 29th Canadian Ministry in 2024.
The Twenty-Ninth Canadian Ministry is the Cabinet, chaired by Prime Minister Justin Trudeau, that began governing Canada shortly before the opening of the 42nd Parliament. The original members were sworn in during a ceremony held at Rideau Hall on November 4, 2015. Those who were not already members of the privy council were sworn into it in the same ceremony. The Cabinet currently consists of 35 members including Trudeau, with 17 women and 18 men. When the ministry was first sworn in, with 15 men and 15 women, it became the first gender-balanced cabinet in Canadian history.
The Canadian federal budget for the 2009–10 fiscal year was presented to the House of Commons of Canada by Finance Minister Jim Flaherty on January 27, 2009. The federal budget included $20 billion in personal income tax cuts as well as major investments in infrastructure.
Canadian public debt, or general government debt, is the liabilities of the government sector. Government gross debt consists of liabilities that are a financial claim that requires payment of interest and/or principal in future. They consist mainly of Treasury bonds, but also include public service employee pension liabilities. Changes in debt arise primarily from new borrowing, due to government expenditures exceeding revenues.
In Canada, the federal government makes equalization payments to provincial governments of lesser fiscal capacity so that "reasonably comparable" levels of public services can be provided at similar levels of taxation. Equalization payments are entrenched in the Constitution Act of 1982, subsection 36(2).
The Canadian federal budget for the 2008–09 fiscal year was presented to the House of Commons of Canada by Finance Minister Jim Flaherty on February 26, 2008.
The 1993 Canadian budget was a Canadian federal budget for the Government of Canada presented by Minister of Finance Don Mazankowski in the House of Commons of Canada on 26 April 1993. It was the fifth budget after the 1988 Canadian federal election and would be the last before the 1993 Canadian federal election.
The Canadian federal budget for fiscal year 2013–14 was presented to the House of Commons of Canada by Finance Minister Jim Flaherty on 21 March 2013. The budget bill was tabled in the legislature on 29 April 2013 as the Economic Action Plan 2013 Act, No. 1. A second budget bill will be tabled in the autumn, which will include elements excluded from the first bill, such as the Canada Job Grant. The deficit was projected to be $18.7 billion for the fiscal year 2013-2014, however this was adjusted to $8.1 billion by end of the fiscal year and once the Auditor General's recommendations on the Government's unfunded pension obligations were taken into account.
The Canadian federal budget for fiscal year 2014–15 was presented to the House of Commons of Canada by Jim Flaherty on 11 February 2014. This was the last budget presented by the Finance Minister before his resignation in March and death in April. At the end of the fiscal year, the government was surprised to post a budgetary surplus of $1.9 billion. This however would later be overturned to a small deficit of $550 million due to improper accounting methodologies for the Government's unfunded pension obligations, as pointed out for years by the Auditor General.
The Canadian federal budget for fiscal year 2015–16 was presented to the House of Commons of Canada by Joe Oliver on 21 April 2015. This was the last budget before the 2015 federal election. The budget was supposed to be presented in February or March before the fiscal year began on April 1, but was delayed because of the steep drop in oil prices in the winter of 2014–15. A surplus of $1.4 billion was projected for the fiscal year 2015-2016, however this was adjusted by the new government to a deficit of $1.0 billion by end of March 2016. This was later adjusted to $2.9 billion after reflecting a change requested by the Auditor General dating back 10 years' worth of federal budgets, specifically with regards to the discount rate methodology used to determine the present value of the Government's unfunded pension obligations.
William Francis Morneau Jr. is a Canadian businessman and former Liberal Party politician who served as minister of finance and member of Parliament (MP) for Toronto Centre from 2015 to 2020.
The 44th Canadian Parliament is the session of the Parliament of Canada which began on 22 November 2021, with the membership of the House of Commons, having been determined by the results of the 2021 federal election held on 20 September. Parliament officially resumed on 22 November with the re-election of Speaker Anthony Rota, and the Speech from the Throne read by Governor General Mary Simon the following day.
The Canadian federal budget for the fiscal years of 2022–23 was presented to the House of Commons by Finance Minister Chrystia Freeland on 7 April 2022.
The Canadian federal budget for the fiscal years of 2023–24 was presented to the House of Commons by Finance Minister Chrystia Freeland on 28 March 2023. The budget was meant to reflect Prime Minister Justin Trudeau's stated policy objective to "make life more affordable for Canadians" while also reducing government expenditures.
The Canadian federal budget for the fiscal years of 2024–25 was not presented to the House of Commons by Finance Minister Chrystia Freeland on 16 April 2024. The budget's slogan is "Fairness for every generation", suggesting the government planned to help younger people.
