Ministry of Finance (Ontario)

Last updated

Ministry of Finance
Ministère des finances  (French)
Government ministry overview
Jurisdiction Government of Ontario
Headquarters33 King Street West
Oshawa, Ontario, Canada
43°53′49.812″N78°51′53.675″W / 43.89717000°N 78.86490972°W / 43.89717000; -78.86490972
Ministers responsible

The Ministry of Finance is a portfolio in the Executive Council of Ontario, commonly known as the cabinet. The Minister of Finance is responsible for managing the fiscal, financial and related regulatory affairs of the Canadian province of Ontario. The cabinet post used to be called the Treasurer of Ontario and was changed to be in line with similar posts in other Canadian provinces and in the federal government.



For most of the period from 1867 until 1993, the minister was called the treasurer or provincial treasurer.

The ministry were renamed the Ministry of Economics in 1956 and the minister became known as Minister in charge of Economics instead of treasurer. From January to December 1961, the ministry became the Ministry of Economics and Federal and Provincial Relations. The title of treasurer was revived in December 1961 with the minister also often holding the secondary title of minister of economics or some variation after 1968. Frank Miller had the sole title of minister of economics from 1978 until 1981 when he was given the additional title of treasurer. At various times in the 1960s and 1970s the minister also held the titles of chairman of the management board of cabinet, chairman of the treasury board and/or minister of revenue. This practice was revived in recent years with Greg Sorbara acting as finance minister and chair of both the management board and the treasury board . It has ended as there is now a different person holding the position of chair of the management and treasury board.

In 1993, the positions of treasurer and minister of economics were formally combined and renamed the minister of finance.

In early 2007, Premier Dalton McGuinty split the province's revenue collection function from the Ministry of Finance and resurrected the Ministry of Revenue, [1] a ministry/portfolio that had not been used since the Ontario New Democratic Party government of Bob Rae in 1993. Following the 2011 Ontario general election, the Ministry of Revenue was merged back into the Ministry of Finance.

Since 1985, the Provincial Treasurer or Minister of Finance has frequently, but certainly not always, concurrently held the appointment Deputy Premier of Ontario.

List of ministers

PortraitNameTerm of officeTenurePolitical party
Edmund Burke Wood.jpg Edmund Burke Wood July 20, 1867December 20, 18714 years, 153 days Liberal

Alexander McKenzie3.jpg Alexander Mackenzie December 20, 1871October 25, 1872310 days Liberal
AdamCrooks23.jpg Adam Crooks October 25, 1872March 19, 18774 years, 145 days Liberal
SamuelCaseyWood23.jpg Samuel Wood March 19, 1877June 2, 18836 years, 75 daysConcurrently Commissioner of Agriculture
JamesYoung23.jpg James Young June 2, 1883November 1, 1883152 daysConcurrently Commissioner of Agriculture
Alexander Ross November 2, 1883September 16, 18906 years, 318 daysConcurrently Commissioner of Agriculture (November 2, 1883 - May 1, 1888)
Richard Harcourt.jpg Richard Harcourt September 16, 1890July 21, 18969 years, 35 days
July 21, 1896October 21, 1899 Liberal
Honourable GW Ross, Prime Minister for Ontario (HS85-10-12129).jpg George William Ross October 21, 1899February 8, 19055 years, 110 days Liberal
While Premier
Arthur Matheson February 8, 1905January 25, 19137 years, 352 days Conservative
Isaac Benson Lucas.jpg Isaac Lucas May 13, 1913October 2, 19141 year, 223 days
October 2, 1914December 22, 1914 Conservative
Thomas McGarry.jpg Thomas McGarry December 22, 1914November 14, 19194 years, 327 days
Peter Smith November 14, 1919April 16, 19233 years, 153 days United Farmers
William Herbert Price July 16, 1923October 18, 19263 years, 94 days Conservative
Joseph Monteith October 18, 1926September 16, 19303 years, 333 days
Edward Arunah Dunlop September 16, 1930December 15, 19303 years, 106 days
December 15, 1930December 31, 1933 Conservative
George Stewart Henry.jpg George Stewart Henry January 12, 1934July 10, 1934179 daysWhile Premier
Mitchell Hepburn1.jpg Mitchell Hepburn July 10, 1934October 21, 19428 years, 236 days Liberal
While Premier
October 21, 1942March 3, 1943 Liberal
Arthur Gordon March 3, 1943May 18, 1943167 days
May 18, 1943August 17, 1943 Liberal
Leslie Frost Premier of Ontario.jpg Leslie Frost August 17, 1943October 19, 194812 years, 0 days
(first instance)
Concurrently Minister of Mines
October 19, 1948May 4, 1949 PC
Concurrently Minister of Mines
May 4, 1949August 17, 1955 PC
While Premier
Dana Porter.JPG Dana Porter August 17, 1955March 28, 19562 years, 166 days
Minister in Charge of the Department of Economics
Dana Porter.JPG Dana Porter March 28, 1956January 30, 1958
Leslie Frost Premier of Ontario.jpg Leslie Frost February 3, 1958April 28, 195884 days
(second instance)
(12 years, 84 days in total)
While Premier
James Allan April 28, 1958January 27, 19618 years, 210 daysConcurrently Minister of Public Works (May 14, 1958 – December 22, 1958)
Minister of Economics and Federal and Provincial Relations
James Allan January 27, 1961December 15, 1961
Treasurer PC
James Allan December 15, 1961November 24, 1966Also Chair of the Treasury Board
Charles MacNaughton November 24, 1966July 23, 19684 years, 97 days
(first instance)
Also Chair of the Treasury Board
Treasurer and Minister of Economics
Charles MacNaughton July 23, 1968March 1, 1971Also Chair of the Treasury Board
Darcy McKeough March 1, 1971April 7, 19721 year, 190 days
(first instance)
Also Chair of the Treasury Board
Treasurer and Minister of Economics and Intergovernmental Affairs
Darcy McKeough April 10, 1972September 7, 1972
Charles MacNaughton September 7, 1972March 15, 1973189 days
(second instance)
(4 years, 286 days in total)
John White January 15, 1973June 18, 19752 years, 154 days
Darcy McKeough June 18, 1975August 16, 19783 years, 59 days
(second instance)
(4 years, 249 days in total)
Frank Miller August 16, 1978August 30, 19794 years, 319 days
Treasurer and Minister of Economics
Frank Miller August 30, 1979July 1, 1983
Larry Grossman July 6, 1983February 8, 19851 year, 299 days
Treasurer PC
Larry Grossman February 8, 1985May 1, 1985
Bette Stephenson May 17, 1985June 26, 198540 daysWhile Deputy Premier
Treasurer and Minister of Economics Liberal
Robert Nixon-c1971.jpg Robert Nixon June 26, 1985October 1, 19905 years, 97 daysConcurrently Minister of Revenue (June 26, 1985 – September 29, 1987), Interim Chair of Management Board of Cabinet (June 17, 1986 – September 29, 1987), and Minister of Financial Institutions (September 29, 1987 – August 16, 1988)
Floyd Laughren October 1, 1990February 1, 19934 years, 268 days NDP
Minister of Finance
Floyd Laughren February 1, 1993June 26, 1995
Ernie Eves June 26, 1995February 8, 20015 years, 227 days PC
While Deputy Premier
Jim Flaherty 2007.JPG Jim Flaherty February 8, 2001April 14, 20021 year, 65 daysWhile Deputy Premier
Janet Ecker April 15, 2002October 22, 20031 year, 190 days PC
Minister of Finance and Chair of the Management Board of Cabinet Liberal
Greg Sorbara October 23, 2003October 11, 20051 year, 353 days
(first instance)
Dwight Duncan October 11, 2005May 23, 2006224 days
(first instance)
Interim minister
Greg Sorbara May 23, 2006October 30, 20071 year, 160 days
(second instance)
(3 years, 148 days in total)
Dwight Duncan October 30, 2007February 11, 20135 years, 104 days
(second instance)
(5 years, 328 days in total)
Concurrently Minister of Revenue (September 18, 2008 – June 24, 2009), Deputy Premier (October 20, 2011 – February 11, 2013), Interim Minister of Government Services (November 27, 2012 – February 11, 2013)
Charles Sousa February 11, 2013June 24, 20145 years, 138 days Liberal
Minister of Finance
Charles Sousa June 24, 2014June 29, 2018The following served as Associate Minister of Finance (Ontario Retirement Pension Plan)
Mitzie Hunter (June 24, 2014 – June 13, 2016)
Indira Naidoo-Harris (June 13, 2016 – August 24, 2016)
Vic Fedeli.png Vic Fedeli June 29, 2018June 20, 2019356 days PC
While Chair of Cabinet
Rod Phillips Q1 Update.jpg Rod Phillips June 20, 2019December 31, 20201 year, 194 days
Peter Bethlenfalvy December 31, 2020present1 year, 254 days

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  1. "Michael Chan Becomes Ontario's Minister Of Revenue". Office of the Premier of Ontario. February 21, 2007. Retrieved February 3, 2011.