Minister for Finance (Australia) facts for kids
Quick facts for kids Minister for Finance |
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| Department of Finance | |
| Style | The Honourable |
| Appointer | Governor-General on the recommendation of the Prime Minister of Australia |
| Inaugural holder | Phillip Lynch |
| Formation | 7 December 1976 |
The Minister for Finance in the Government of Australia is a very important job. This person is in charge of watching how the government spends money. They also make sure the government's finances are managed well.
The current Minister for Finance is Senator Katy Gallagher. She has been in this role since May 2022.
This minister works closely with the Treasurer. The Minister for Finance helps with government spending and how the government runs its money matters. They do this through the Department of Finance.
Think of the Finance Minister as a helper or deputy to the Treasurer. If the Treasurer is away, the Finance Minister steps in to do their job. Unlike the Treasurer, who is usually from the House of Representatives, the Finance Minister can be from either the House of Representatives or the Senate.
Who Has Been the Minister for Finance?
The job of Minister for Finance started in 1977. It was created by Malcolm Fraser's government. Over the years, the name of this job has changed a few times.
It was first called "Minister for Finance." Then, in 1997, it became "Minister for Finance and Administration." In 2007, it changed to "Minister for Finance and Deregulation." In 2013, it went back to "Minister for Finance." The current name, "Minister for Finance," was set in 2018.
Some people who have been Finance Minister also became Treasurer later on. For example, John Dawkins and Ralph Willis served as Finance Minister before becoming Treasurer. Also, Katy Gallagher, the current minister, was previously the Treasurer for the Australian Capital Territory.
Here is a list of some of the people who have held this important role:
| Order | Minister | Party affiliation | Prime Minister | Ministerial title | Term start | Term end | Term in office | |
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| 1 | Phillip Lynch | Liberal | Fraser | Minister for Finance | 7 December 1976 | 19 November 1977 | 347 days | |
| 2 | Eric Robinson | 20 November 1977 | 23 February 1979 | 1 year, 95 days | ||||
| 3 | John Howard | 23 February 1979 | 27 February 1979 | 4 days | ||||
| 4 | Dame Margaret Guilfoyle | 3 November 1980 | 11 March 1983 | 2 years, 128 days | ||||
| 5 | John Dawkins | Labor | Hawke | 11 March 1983 | 13 December 1984 | 1 year, 277 days | ||
| 6 | Peter Walsh | 13 December 1984 | 4 April 1990 | 5 years, 112 days | ||||
| 7 | Ralph Willis | 4 April 1990 | 9 December 1991 | 1 year, 249 days | ||||
| 8 | Kim Beazley | 9 December 1991 | 27 December 1991 | 18 days | ||||
| 9 | John Fahey | Liberal | Howard | 11 March 1996 | 26 November 2001 | 5 years, 260 days | ||
| 10 | Nick Minchin | Minister for Finance and Administration | 26 November 2001 | 3 December 2007 | 6 years, 7 days | |||
| 11 | Lindsay Tanner | Labor | Rudd | Minister for Finance and Deregulation | 3 December 2007 | 3 September 2010 | 2 years, 274 days | |
| 12 | Wayne Swan | Gillard | 3 September 2010 | 14 September 2010 | 11 days | |||
| 13 | Penny Wong | Gillard | 14 September 2010 | 18 September 2013 | 3 years, 4 days | |||
| 14 | Mathias Cormann | Liberal | Abbott | Minister for Finance | 18 September 2013 | 30 October 2020 | 7 years, 42 days | |
| 15 | Simon Birmingham | Morrison | 30 October 2020 | 23 May 2022 | 1 year, 205 days | |||
| 16 | Katy Gallagher | Labor | Albanese | 23 May 2022 | Incumbent | 3 years, 27 days | ||
See also
- Ministry of Finance
- Minister for Finance (Victoria)
- Minister for Finance (New South Wales)
