Ministry of Finance (Ontario)
Encyclopedia
The Ministry of Finance is a portfolio in the Executive Council of Ontario
commonly known as the cabinet
. The Finance Minister is responsible for managing the fiscal
, financial
and related regulatory affairs of the Canadian province of Ontario
. The cabinet posted used to be called the Treasurer of Ontario and was changed to be in line with other post in other Canadian provinces.
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 treasuruer. 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 boardhttp://www.premier.gov.on.ca/team/default.asp?Lang=EN.
In 1993, the positions of treasurer and minister of economics were formally combined and renamed the minister of finance.
In early 2007, Premier McGuinty
split the province's revenue collection function away from the Ministry of Finance and resurrected the Ministry of Revenue
, a ministry/portfolio that had not been used since the NDP
government of Bob Rae
in 1993.
1 Treasurer
2 Minister in Charge of the Department of Economics
3 Minister of Economics and Federal and Provincial Relations
4 Minister of Economics
5 Minister of Economics and Intergovernmental Affairs
Executive Council of Ontario
The Executive Council of Ontario plays an important role in theGovernment of Ontario, in accordance with the Westminster system....
commonly known as the cabinet
Cabinet (government)
A Cabinet is a body of high ranking government officials, typically representing the executive branch. It can also sometimes be referred to as the Council of Ministers, an Executive Council, or an Executive Committee.- Overview :...
. The Finance Minister is responsible for managing the fiscal
Fiscal policy
In economics and political science, fiscal policy is the use of government expenditure and revenue collection to influence the economy....
, financial
FINANCIAL
FINANCIAL is the weekly English-language newspaper with offices in Tbilisi, Georgia and Kiev, Ukraine. Published by Intelligence Group LLC, FINANCIAL is focused on opinion leaders and top business decision-makers; It's about world’s largest companies, investing, careers, and small business. It is...
and related regulatory affairs of the Canadian province of Ontario
Ontario
Ontario is a province of Canada, located in east-central Canada. It is Canada's most populous province and second largest in total area. It is home to the nation's most populous city, Toronto, and the nation's capital, Ottawa....
. The cabinet posted used to be called the Treasurer of Ontario and was changed to be in line with other post in other Canadian provinces.
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 treasuruer. At various times in the 1960s and 1970s the minister also held the titles of chairman of the management board of cabinet
Management Board Secretariat (Ontario)
The Treasury Board/Management Board of Cabinet is a joint sub-committee of Cabinet Ministers and Parliamentary Assistants who manage the fiscal plan of the government including controlling all government spending, approving labour agreements and workforce planning, manage the provincial contingency...
, chairman of the treasury board and/or minister of revenue. This practice was revived in recent years with Greg Sorbara
Greg Sorbara
Gregory Sam "Greg" Sorbara, MPP a member of the Legislative Assembly of Ontario for Vaughan. Sorbara served as the Minister of Finance in the Ontario Liberal Party government of Premier Dalton McGuinty from 2003 to 2007.He resigned on October 11, 2005, following a police investigation involving...
acting as finance minister and chair of both the management board and the treasury boardhttp://www.premier.gov.on.ca/team/default.asp?Lang=EN.
In 1993, the positions of treasurer and minister of economics were formally combined and renamed the minister of finance.
In early 2007, Premier McGuinty
Dalton McGuinty
Dalton James Patrick McGuinty, Jr., MPP is a Canadian lawyer, politician and, since October 23, 2003, the 24th and current Premier of the Canadian province of Ontario....
split the province's revenue collection function away from the Ministry of Finance and resurrected the Ministry of Revenue
Ministry of Revenue (Ontario)
The Ministry of Revenue administers most of the province's major tax statutes as well as a number of tax credit, incentive and benefit programs. The tax revenues collected provide the fiscal foundation upon which many of the government's programs rely...
, a ministry/portfolio that had not been used since the NDP
Ontario New Democratic Party
The Ontario New Democratic Party or , formally known as New Democratic Party of Ontario, is a social democratic political party in Ontario, Canada. It is a provincial section of the federal New Democratic Party. It was formed in October 1961, a few months after the federal party. The ONDP had its...
government of Bob Rae
Bob Rae
Robert Keith "Bob" Rae, PC, OC, OOnt, QC, MP is a Canadian politician. He is the Member of Parliament for Toronto Centre and interim leader of the Liberal Party of Canada....
in 1993.
List of Ontario Treasurers and Ministers of Economics (1867-1993)
- Edmund Burke WoodEdmund Burke WoodEdmund Burke Wood was a Member of the Legislative Assembly of Ontario for Brant South, and served as the first provincial treasurer of Ontario from 1867 to 1871 under Premier John Sandfield Macdonald...
(Jul 1867 - Dec 1871)1 Conservative - Adam Crooks (Oct 1872 - Mar 1877)1 Liberal
- Samuel WoodSamuel Wood (Ontario politician)Samuel Casey Wood was a Canadian businessman and politician, who served as a member of the Legislative Assembly of Ontario from 1871 to 1883, representing the electoral district of Victoria South as a Liberal member. Wood served as provincial treasurer from 1877 to 1883.He was born in Bath in...
(March 1877 - June 1883)1 Liberal - Alexander RossAlexander Ross (politician)Alexander McLagan Ross was a Canadian banker and politician, who served as a Member of the Legislative Assembly of Ontario for Huron West from 1875 to 1890 as a Liberal member. He was provincial treasurer from 1883 to 1890....
(1883-1890)1 Liberal - Richard HarcourtRichard HarcourtRichard Harcourt was a Canadian lawyer, judge and politician. He served as a member of the Legislative Assembly of Ontario for the riding of Monck from 1879 to 1908...
(1890-1899)1 Liberal - George William RossGeorge William RossSir George William Ross was an educator and politician in Ontario, Canada. He was the fifth Premier of Ontario from 1899 to 1905....
(Oct 1899 - Feb 1905)1 as Premier, Liberal - Arthur MathesonArthur MathesonArthur James Matheson was a Canadian lawyer and politician. He served as a Conservative Member of the Legislative Assembly of Ontario for Lanark South from 1898 to 1913, and was provincial treasurer from 1905 to 1913....
(Feb 1905 - Jan 1913)1 Conservative - Isaac Lucas (May 1913 - Dec 1914)1 Conservative
- Thomas McGarryThomas McGarryThomas William McGarry was a Canadian politician. He served as a Conservative Member of the Legislative Assembly of Ontario for Renfrew South from 1905 to 1919, and later as provincial treasurer from 1914 to 1919.-External links:*...
(Dec 1914 - Nov 1919)1 Conservative - Peter SmithPeter Smith (Canadian politician)Peter Smith was a Canadian politician. He served as a Member of the Legislative Assembly of Ontario for Perth South from 1919 to 1923 representing the United Farmers of Ontario....
(Nov 1919 - Jul 1923)1 United Farmers of Ontario - William Herbert PriceWilliam Herbert PriceWilliam Herbert Price was Ontario MLA for Parkdale from 1914 to 1937. He was Attorney General of Ontario from 1926 to 1934 and Treasurer from 1923 to 1926....
(Jul 1923 - Oct 1926)1 Conservative - Joseph MonteithJoseph MonteithJoseph Dunsmore Monteith was an Ontario MLA for Perth North from 1923 to 1934. He was treasurer from 1926 to 1930 and Minister of Labour, Public Works and Highways from 1930 to 1934....
(Oct 1926 - Sep 1930)1 Conservative - Edward Arunah DunlopEdward Arunah DunlopEdward Arunah Dunlop was a Canadian industrialist and politician. He served as a Conservative Member of the Legislative Assembly of Ontario for Renfrew North from 1903 to 1934, and later as provincial treasurer from 1930 to 1933.Dunlop was born in Pembroke, Ontario, the son of Arunah Dunlop and...
(Sep 1930 - Dec 1933)1 Conservative - George S. Henry (Jan 1934 - July 1934)1 as Premier, Conservative
- Mitchell HepburnMitchell HepburnMitchell Frederick Hepburn was the 11th Premier of Ontario, Canada, from 1934 to 1942. He was the youngest Premier in Ontario history, appointed at age 37....
(Jul 1934 - Mar 1943)1 as Premier until Oct 1942, Liberal - Arthur GordonArthur GordonArthur St. Clair Gordon was a manufacturer and Ontario provincial politician. Gordon, a Liberal, was first elected to the Legislative Assembly of Ontario in the 1934 provincial election that brought Liberal Mitchell Hepburn to power. He represented the riding of Kent West from 1934 until 1945.He...
(Mar 1943 - Aug 1943)1 Liberal - Leslie FrostLeslie FrostLeslie Miscampbell Frost, was a politician in Ontario, Canada, who served as the 16th Premier from May 4, 1949 to November 8, 1961. Due to his lengthy tenure, he gained the nickname "Old Man Ontario".-Early years:...
(1943-1955)1 as Premier from 1949, Progressive Conservative - Dana PorterDana PorterDana Harris Porter was a Canadian politician and jurist.After graduating from the University of Toronto in 1921, Porter went to England to continue his studies at Balliol College, Oxford from which he graduated with a Master's degree in 1923...
(Aug 1955 - Mar 1956)1 Progressive Conservative - Dana PorterDana PorterDana Harris Porter was a Canadian politician and jurist.After graduating from the University of Toronto in 1921, Porter went to England to continue his studies at Balliol College, Oxford from which he graduated with a Master's degree in 1923...
(Mar 1956 - Jan 1958)² Progressive Conservative - Leslie FrostLeslie FrostLeslie Miscampbell Frost, was a politician in Ontario, Canada, who served as the 16th Premier from May 4, 1949 to November 8, 1961. Due to his lengthy tenure, he gained the nickname "Old Man Ontario".-Early years:...
(Feb - Apr 1958)² while Premier Progressive Conservative - James AllanJames AllanJames Noble Allan was a Canadian politician.After serving as mayor of Dunnville and warden of Haldimand County along with various other municipal posts, Allan was first elected to the Legislative Assembly of Ontario in the 1951 provincial election as the Progressive Conservative Member of...
(Apr 1958 - Jan 1961)² Progressive Conservative - James AllanJames AllanJames Noble Allan was a Canadian politician.After serving as mayor of Dunnville and warden of Haldimand County along with various other municipal posts, Allan was first elected to the Legislative Assembly of Ontario in the 1951 provincial election as the Progressive Conservative Member of...
(Jan 1961 - Dec 1961)³ Progressive Conservative - James AllanJames AllanJames Noble Allan was a Canadian politician.After serving as mayor of Dunnville and warden of Haldimand County along with various other municipal posts, Allan was first elected to the Legislative Assembly of Ontario in the 1951 provincial election as the Progressive Conservative Member of...
(Dec 1961 - Nov 1966)1 Progressive Conservative - Charles MacNaughtonCharles MacNaughtonCharles McNaughton was a Canadian politician, who served as a Progressive Conservative member of the Legislative Assembly of Ontario for the electoral district of Huron from 1958 to 1975.He was treasurer from 1968 to 1971 and also served as:...
, (Nov 1966 - Jul 1968)1 Progressive Conservative - Charles MacNaughtonCharles MacNaughtonCharles McNaughton was a Canadian politician, who served as a Progressive Conservative member of the Legislative Assembly of Ontario for the electoral district of Huron from 1958 to 1975.He was treasurer from 1968 to 1971 and also served as:...
, (July 1968 - March 1971)1 4 Progressive Conservative - Darcy McKeoughDarcy McKeoughWilliam Darcy McKeough, is a Canadian businessman and former politician. He is a member of the board of Hydro One and is chairman of McKeough Investments and McKeough Supply, and former CEO of Union Gas....
(Mar 1971 - Apr 1972)1 4 Progressive Conservative - Charles MacNaughtonCharles MacNaughtonCharles McNaughton was a Canadian politician, who served as a Progressive Conservative member of the Legislative Assembly of Ontario for the electoral district of Huron from 1958 to 1975.He was treasurer from 1968 to 1971 and also served as:...
(Sep 1972 - Jan 1973)1 5 Progressive Conservative - John WhiteJohn White (Ontario politician)John White was a Progressive Conservative cabinet minister in Ontario, Canada, and Member of Provincial Parliament for London South from 1959 to 1975...
(Jan 1973 - Jun 1975)1 5 Progressive Conservative - Darcy McKeoughDarcy McKeoughWilliam Darcy McKeough, is a Canadian businessman and former politician. He is a member of the board of Hydro One and is chairman of McKeough Investments and McKeough Supply, and former CEO of Union Gas....
{Jun 1975 - Aug 1978)1 5 Progressive Conservative - Frank MillerFrank Miller (politician)Frank Stuart Miller, was a Canadian politician, who served as the 19th Premier of Ontario for four months in 1985.-Early life and political career:...
(Aug 1978 - April 1981) 4 Progressive Conservative - Frank MillerFrank Miller (politician)Frank Stuart Miller, was a Canadian politician, who served as the 19th Premier of Ontario for four months in 1985.-Early life and political career:...
(Apr 1981 - Jul 1983)1 4 Progressive Conservative - Larry GrossmanLarry GrossmanLawrence "Larry" Sheldon Grossman was a politician in Ontario, Canada.-Early years:Born in Toronto, Grossman was the son of Allan Grossman, who had represented a downtown Toronto riding in the Legislative Assembly of Ontario for twenty years after defeating Ontario's last Communist Member of...
(Jul 1983 - Feb 1985)1 4 Progressive Conservative - Larry GrossmanLarry GrossmanLawrence "Larry" Sheldon Grossman was a politician in Ontario, Canada.-Early years:Born in Toronto, Grossman was the son of Allan Grossman, who had represented a downtown Toronto riding in the Legislative Assembly of Ontario for twenty years after defeating Ontario's last Communist Member of...
(Feb 1985 - May 1985)1 Progressive Conservative - Bette StephensonBette StephensonBette Mildred Stephenson, OC, O.Ont is a Canadian medical doctor and former politician in Ontario. She served in the Legislative Assembly of Ontario from 1975 to 1987, and was a cabinet minister in the Progressive Conservative governments of Bill Davis and Frank Miller.-Medical career:Born in...
(May 1985 - Jun 1985)1 Progressive Conservative - Robert NixonRobert NixonRobert Fletcher Nixon is a retired politician in the province of Ontario, Canada. The son of former Premier of Ontario Harry Nixon, he was first elected to the Legislative Assembly of Ontario in a 1962 by-election following his father's death...
(Jun 1985 - Oct 1990)1 4 Liberal - Floyd LaughrenFloyd LaughrenFloyd Laughren is a former politician in Ontario, Canada. He sat in the Legislative Assembly of Ontario from 1971 to 1998 as a member of the Ontario New Democratic Party, and served as Finance Minister and Deputy Premier in the government of Bob Rae.-Background:Laughren's childhood was far...
(Oct 1990 - Feb 1993)1 4 NDP
1 Treasurer
2 Minister in Charge of the Department of Economics
3 Minister of Economics and Federal and Provincial Relations
4 Minister of Economics
5 Minister of Economics and Intergovernmental Affairs
Ministers of Finance (since 1993)
- Floyd LaughrenFloyd LaughrenFloyd Laughren is a former politician in Ontario, Canada. He sat in the Legislative Assembly of Ontario from 1971 to 1998 as a member of the Ontario New Democratic Party, and served as Finance Minister and Deputy Premier in the government of Bob Rae.-Background:Laughren's childhood was far...
(Feb 1993 - Jun 1995) NDP - Ernie EvesErnie EvesErnest Lawrence "Ernie" Eves was the 23rd Premier of the province of Ontario, Canada, from April 15, 2002, to October 23, 2003.-Beginnings:...
(Jun 1995 - Feb 2001) Progressive Conservative - Jim FlahertyJim FlahertyJames Michael "Jim" Flaherty, PC, MP is Canada's Minister of Finance and he has also served as Ontario's Minister of Finance. From 1995 until 2005, he was the Member of Provincial Parliament for Whitby—Ajax, and a member of the Progressive Conservative Party caucus...
(Feb 2001 - Apr 2002) Progressive Conservative - Janet EckerJanet EckerJanet Ecker is a politician in Ontario, Canada. She was a member of the Legislative Assembly of Ontario from 1995 to 2003, and was a senior cabinet minister in the governments of Mike Harris and Ernie Eves.-Background:...
(Apr 2002 - Oct 2003) Progressive Conservative - Greg SorbaraGreg SorbaraGregory Sam "Greg" Sorbara, MPP a member of the Legislative Assembly of Ontario for Vaughan. Sorbara served as the Minister of Finance in the Ontario Liberal Party government of Premier Dalton McGuinty from 2003 to 2007.He resigned on October 11, 2005, following a police investigation involving...
(Oct 2003 - Oct 2005) Liberal - Dwight DuncanDwight DuncanDwight Duncan, MPP is a politician in Ontario, Canada. He has been a member of the Legislative Assembly of Ontario since 1995, and is the Minister of Finance in the government of Dalton McGuinty...
(Oct 2005 - May 2006) Liberal - Greg SorbaraGreg SorbaraGregory Sam "Greg" Sorbara, MPP a member of the Legislative Assembly of Ontario for Vaughan. Sorbara served as the Minister of Finance in the Ontario Liberal Party government of Premier Dalton McGuinty from 2003 to 2007.He resigned on October 11, 2005, following a police investigation involving...
(May 2006 - September 10, 2007) Liberal - Dwight DuncanDwight DuncanDwight Duncan, MPP is a politician in Ontario, Canada. He has been a member of the Legislative Assembly of Ontario since 1995, and is the Minister of Finance in the government of Dalton McGuinty...
(October 30, 2007 - present) Liberal