The minister of finance is a member of a government cabinet and director of the ministry of finance. The responsibilities of the office include advising the head of the government; managing the budget, taxes and funding for programs; addressing domestic economical growth and policy; and handling international financial matters. Other titles for the minister of finance might be finance minister, secretary of the treasury, chancellor of exchequer or financial secretary. Every country has some form of a minister of finance, no matter what the position's title is.

This type of position is very important. A country's standard of living is closely related to the decisions that the minister of finance makes or recommends. One of the minister's priorities is the government's budget, which is made up of two things: revenue and spending. This is called fiscal policy. Fiscal policy affects interest rates, bank regulations, unemployment, operation of private businesses and inflation of currency.

Taxes are the main source of revenue for most governments, but there are multiple avenues for spending. Taxes and spending are two sides of the same issue, often sparking controversy. If a government is to have lower taxes, it must eliminate some government programs, reduce salaries and curb its standards of operation. If it is to increase government programs and grants, the government must raise taxes or other fees.

The minister of finance has to find a balance. He or she must fund necessary programs while minimizing the burden on the taxpayer. Often, this position makes him or her an unpopular public servant, but his or her decisions affect all citizens of the country. The actual power of the office of minister varies from country to country. Some countries might leave the ultimate decisions up to the head of the government or to the legislative body, and others allow the minister of finance to enforce decisions.

When the government does hold public funds that are not considered taxes, the minister of finance acts as the trustee of the funds. Retirement, medical disability and welfare programs are all paid by working citizens, but they are not technically considered taxes. The minister acts as the trustee of these programs, ensuring that they are properly maintained.

If the government plays a major role in business by using taxpayer money to fund organizations such as healthcare facilities, schools and financial institutions, the minister of finance has a great deal of power. He or she might be second only to the prime minister. In countries that have limited government involvement in business activity, the minister of finance might be considered a minor government position that holds little power.