Ministry of Finance (Netherlands)

Ministry of Finance
Dutch: Ministerie van Financiën
Logo of the Ministry of Finance

Building of the Ministry of Finance
Department overview
Formed 12 March 1798 (1798-03-12)
Jurisdiction Kingdom of the Netherlands
Headquarters Korte Voorhout 7, The Hague, Netherlands
Employees 1,500
Annual budget €11,7 billion (2013)[1]
Minister responsible
Deputy Minister responsible
Department executive
  • Manon Leijten, Secretary-General
Website (in English) Ministry of Finance

The Ministry of Finance (Dutch: Ministerie van Financiën; FIN) is the Dutch Ministry responsible for Economic policy, Monetary policy, Fiscal policy, Tax policy, Incomes policy, Regulations, Government budget and the Financial market. The Ministry was created in 1798 as the Department of Finance of the Batavian Republic. In 1876, it became the Ministry of Finance. The Minister of Finance (Dutch: Minister van Financiën) is the head of the Ministry and a member of the Cabinet of the Netherlands. The current Minister is Wopke Hoekstra].[2]

Kingdom of the Netherlands
Azure, billetty Or a lion with a coronet Or armed and langued Gules holding in his dexter paw a sword Argent hilted Or and in the sinister paw seven arrows Argent pointed and bound together Or. [The seven arrows stand for the seven provinces of the Union of Utrecht.] The shield is crowned with the (Dutch) royal crown and supported by two lions Or armed and langued gules. They stand on a scroll Azure with the text (Or) "Je Maintiendrai" (French for "I will maintain".)
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History

The ministry was founded in 1798. In the early history of the ministry, the Prime Minister often served as Minister of Finance. Pieter Philip van Bosse served as Minister of Finance five times. Since 1965 a State Secretary has been appointed each formation with responsibility for taxation. The most recent Prime Minister to serve as his own Minister of Finance was Jelle Zijlstra (1966–67).

Responsibilities

The ministry has the duty to "guard the treasury and aim for a financially sound and prosperous state of the Netherlands.

  • It is responsible for the income and expenditure of the Kingdom of the Netherlands.
  • It collects the taxes and develops fiscal legislation.
  • It seeks to expend the budget of the government responsibly, efficiently and effectively.
  • It is also responsible for financial-economic policy.
  • It supervises the financial markets, banks and financial transfers.

Organisation

The ministry is currently headed by one minister and one State secretary. The ministry's main office is located in the centre of The Hague at the Korte Voorhout. It employs almost 1,500 civil servants. The civil service is headed by a secretary general and a deputy secretary general, who head a system of four directorates general:

  • General Thesaury (financial economic policy)
  • Directorate General for the Budget
  • Directorate General for Fiscal Affairs
  • Directorate General for Taxation

It is also responsible for several decentralized services:

The ministry also owns most of the shares the Dutch government owns, which are all nationalized companies. These include

It also responsible for overseeing the independent government financial regulatory agency:

See also

References

  1. ↑ (in Dutch) IX Financiën en Nationale Schuld, Rijksoverheid, September 18, 2012
  2. ↑ (in Dutch) "Wopke Hoekstra (CDA), bezige bij en nu minister van Financiën". NOS. 23 October 2017. Retrieved 15 January 2018.
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