A finance minister
is an executive or cabinet
position in charge of one or more of government finances, economic policy and financial regulation.
A finance minister's portfolio
has a large variety of names across the world, such as "treasury", "finance", "financial affairs", "economy" or "economic affairs". The position of the finance minister might be named for this portfolio, but it may also have some other name, like "Treasurer" or, in the United Kingdom
, "Chancellor of the Exchequer
- in some countries the finance minister might also have oversight of monetary policy (while in other countries that is the responsibility of an independent central bank);
- in some countries the finance minister might be assisted by one or more other ministers (some supported by a separate government department) with respect to fiscal policy or budget formation;
- in many countries there is a separate portfolio for general economic policy in the form of a ministry of "economic affairs" or "national economy" or "commerce";
- in many countries financial regulation is handled by a separate agency, which might be overseen by the finance ministry or some other government body.
, the senior minister is the Treasurer
, although there is a Minister for Finance
who is more junior and, as of 2018, heads a separate portfolio of Finance and the Public Service.
Finance ministers can be unpopular if they must raise taxes
or cut spending
. Finance ministers whose key decisions had directly benefited both the performance and perception of their country’s economic and financial achievements are recognised by the annual Euromoney Finance Minister of the Year
Last edited on 10 May 2021, at 10:47
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