- published: 04 Feb 2016
- views: 6494
The finance minister is an executive or cabinet position in a government.
A minister of finance (also called financial affairs, the treasury, the economy, or economic affairs) has many different jobs in a government. The minister forms the government budget, stimulate the economy, and control finances. Finance ministers are often found in state or provincial governments if that country has a form of federalism. Although in many cases, especially the Anglo-American world, the posts are merged,[citation needed] the Finance and Economy are separate ministries across most of the globe. Economic affairs are usually handle a ministry or department of commerce.[clarification needed]
The powers of a finance minister vary between governments. Sometimes the finance minister is the most powerful cabinet post, like in Canada or New Zealand. In Australia, the finance minister is junior to the Treasurer - the Treasurer is responsible for economic matters and is assisted by the Minister for Finance and Deregulation (formerly Finance and Administration) who heads a separate department. Other times they are unpopular posts if they must raise taxes or cut spending.