Minister for Finance (Australia)

The Minister for Finance is a senior portfolio in the Australian Government responsible for overseeing the management of the Australian government's finances. The role encompasses budgetary oversight, management of government assets, and the implementation of financial policy. The Minister is a member of Cabinet and reports to the Parliament of Australia.

Responsibilities:

The Minister's responsibilities typically include:

• Developing and implementing the Commonwealth Budget.
• Managing government expenditure and revenue.
• Overseeing government-owned corporations and investments.
• Developing and implementing policies related to government financial management, including accounting and reporting standards.
• Advising the Prime Minister and Cabinet on financial matters.
• Representing Australia in international financial forums.
• Administering the Financial Management Act 1997 and other related legislation.

Portfolio Agencies:

The Minister for Finance has portfolio responsibility for a number of government agencies, including:

• Department of Finance
• Australian National Audit Office (ANAO) - although the Auditor-General is independent of the government.

Appointment and Tenure:

The Minister for Finance is appointed by the Governor-General on the advice of the Prime Minister. The tenure of the Minister is dependent on the term of the government and the Prime Minister's discretion. The Minister may be removed from office by the Governor-General on the advice of the Prime Minister.