Minister for Finance (Australia)

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Minister for Finance
Coat of Arms of Australia.svg
Commonwealth Coat of Arms
Flag of Australia (converted).svg
Flag of Australia
Katy Gallagher 2022.jpg
Incumbent
Katy Gallagher
since 23 May 2022 (2022-05-23)
Department of Finance
Style The Honourable
Appointer Governor-General
on the advice of the prime minister
Inaugural holder Phillip Lynch
Formation7 December 1976 (1976-12-07)
Website www.financeminister.gov.au

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

Contents

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

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.

OrderMinisterParty affiliationPrime MinisterMinisterial titleTerm startTerm endTerm in office
1 Phillip Lynch   Liberal Fraser Minister for Finance7 December 197619 November 1977347 days
2 Eric Robinson 20 November 197723 February 19791 year, 95 days
3 John Howard 23 February 197927 February 19794 days
n/aEric Robinson27 February 19793 November 19801 year, 250 days
4 Dame Margaret Guilfoyle 3 November 198011 March 19832 years, 128 days
5 John Dawkins Labor Hawke 11 March 198313 December 19841 year, 277 days
6 Peter Walsh 13 December 19844 April 19905 years, 112 days
7 Ralph Willis 4 April 19909 December 19911 year, 249 days
8 Kim Beazley 9 December 199120 December 199118 days
Keating 20 December 199127 December 1991
n/aRalph Willis27 December 199123 December 19931 year, 361 days
n/aKim Beazley23 December 199311 March 19962 years, 79 days
9 John Fahey Liberal Howard 11 March 19969 October 19975 years, 260 days
Minister for Finance and Administration9 October 199726 November 2001
10 Nick Minchin 26 November 20013 December 20076 years, 7 days
11 Lindsay Tanner Labor Rudd Minister for Finance and Deregulation3 December 200724 June 20102 years, 274 days
Gillard 24 June 20103 September 2010
12 Wayne Swan 3 September 201014 September 201011 days
13 Penny Wong 14 September 20101 July 20133 years, 4 days
Rudd1 July 201318 September 2013
14 Mathias Cormann 1 Liberal Abbott Minister for Finance18 September 201315 September 20157 years, 42 days
Turnbull 15 September 201523 August 2018
Morrison Minister for Finance and the Public Service 28 August 201829 May 2019
Minister for Finance29 May 201930 October 2020
n/a Scott Morrison 1 30 March 202023 May 20222 years, 54 days
15 Simon Birmingham 1 30 October 20201 year, 205 days
16 Katy Gallagher Labor Albanese 23 May 2022Incumbent2 years, 262 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

List of ministers for administrative services

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]

OrderMinisterParty affiliationPrime MinisterMinisterial titleTerm startTerm endTerm in office
1 Fred Daly  Labor Whitlam Minister for Services and Property19 December 19727 October 19752 years, 327 days
 Minister for Administrative Services7 October 197511 November 1975
2 Tom Drake-Brockman  National Fraser 12 November 197522 December 197541 days
3 Reg Withers  Liberal22 December 19757 August 19782 years, 228 days
4 Peter Durack  7 August 197825 August 197818 days
5 Fred Chaney  25 August 19785 December 1978102 days
6 John McLeay  5 December 19783 November 19801 year, 334 days
7 Kevin Newman  3 November 198011 March 19832 years, 128 days
8 John Brown  Labor Hawke 11 March 198313 December 19841 year, 277 days
9 Tom Uren  Minister for Local Government and Administrative Services13 December 198424 July 19872 years, 223 days
10 Stewart West  Minister for Administrative Services24 July 19874 April 19902 years, 254 days
11 Nick Bolkus  4 April 199020 December 19912 years, 354 days
  Keating 20 December 199124 March 1993
12 Bob McMullan  Minister for the Arts and Administrative Services24 March 199330 January 19941 year, 1 day
 Minister for Administrative Services30 January 199425 March 1994
13 Frank Walker  25 March 199411 March 19961 year, 352 days
14 David Jull  Liberal Howard 11 March 199625 September 19971 year, 198 days
15 John Fahey Minister for Finance and Administration9 October 199726 November 20014 years, 48 days
16 Nick Minchin 26 November 20013 December 20076 years, 7 days

List of assistant ministers for finance

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

OrderMinisterParty affiliationPrime MinisterMinisterial titleTerm startTerm endTerm in office
1 David Coleman   Liberal Turnbull Assistant Minister for Finance20 December 201728 August 2018251 days

See also

References

  1. 1 2 3 "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. 1 2 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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