Finance
How Finance spent its budget in fiscal year 2024-25, shown as net expenditures by standard object from Public Accounts Volume II.
The Department of Finance develops federal fiscal, economic, and tax policy, prepares the federal budget, manages transfers to provinces and territories, and oversees the regulation of the financial sector along with the management of federal debt.
Finance spent $143.86B in the 2024–25 fiscal year, representing 26.3% of total federal spending.
The large majority of this spending is administered by the Department of Finance itself, with smaller amounts flowing through portfolio bodies including the Office of the Superintendent of Financial Institutions, the Office of the Auditor General, the Financial Transactions and Reports Analysis Centre of Canada, and the Financial Consumer Agency of Canada. Its largest transfer payments are the major federal-provincial fiscal transfers: the Canada Health Transfer, Fiscal Equalization, the Canada Social Transfer, and Territorial Financing, along with payments to the International Development Association.
Department Spending
In FY 2024-25,
$143.86B
was spent by Finance
In FY 2024-25,
26.3%
of federal spending was by Finance
How did Finance spend its budget in 2024-25?
Spending by entity, FY 2024-25
Department of Finance
Office of the Superintendent of Financial Institutions
Office of the Auditor General
Financial Transactions and Reports Analysis Centre of Canada
Financial Consumer Agency of Canada
$143.26B
$312.9M
$132.4M
$101.4M
$55.3M
Finance’s share of federal spending
Percentage of federal spending, 1995–2025
Line items
Every transfer-payment (grant and contribution) program, in dollars. These are the named programs behind the transfer-payments object in the chart above. Search, sort, and download the full table.
| Category | Description | Amount ▼ |
|---|---|---|
| Other transfer payments | Canada Health Transfer (Part V.1—Federal-Provincial Fiscal Arrangements Act) | $52,070,383,303 |
| Other transfer payments | Fiscal Equalization (Part I—Federal-Provincial Fiscal Arrangements Act) | $25,252,833,000 |
| Other transfer payments | Canada Social Transfer (Part V.1—Federal-Provincial Fiscal Arrangements Act) | $16,908,791,000 |
| Other transfer payments | Territorial Financing (Part I.1 - Federal-Provincial Fiscal Arrangements Act) | $5,158,964,752 |
| Other transfer payments | Payments to International Development Association (Bretton Woods and Related Agreements Act) | $486,916,000 |
| Other transfer payments | Payment to Newfoundland and Labrador related to the Hibernia Dividend Backed Annuity Agreement (Section 200— Budget Implementation Act, 2021, No. 1) | $184,903,516 |
| Other transfer payments | Debt payments on behalf of poor countries to International Organizations pursuant to subsection 18(1) of the Economic Recovery Act | $51,535,479 |
| Other transfer payments | Statutory Subsidies (Constitution Acts, 1867-1982, and other statutory authorities) | $44,920,116 |
| Contributions | Indigenous Participant Funding Program | $400,000 |
| Other transfer payments | Payments of any amount that is required for the purpose of providing financial assistance, pursuant to section 8.3 of the Bretton Woods and Related Agreements Act | $212,248 |
| Contributions | Items not required for the current year | $0 |
| Other transfer payments | Alternative Payments for Standing Programs (Part VI— Federal-Provincial Fiscal Arrangements Act) | $0 |
| Other transfer payments | Items not required for the current year | $0 |
| Other transfer payments | Youth Allowances Recovery (Federal-Provincial Fiscal Revision Act, 1964) | $0 |
Explore other federal departments
Finance figures are net expenditures by standard object from Public Accounts Volume II, and will not match the Volume I consolidated headline totals. See the methodology for details.
