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Ministry of Finance (Netherlands)

From Wikipedia, the free encyclopedia
Government ministry of the Netherlands
Ministry of Finance
Dutch:Ministerie van Financiën
Logo of the Ministry of Finance

Building of the Ministry of Finance
Department overview
Formed12 March 1798; 227 years ago (1798-03-12)
JurisdictionKingdom of the Netherlands
HeadquartersKorte Voorhout 7,The Hague,Netherlands
Employees1,500
Annual budget€11.7 billion (2013)[1]
Minister responsible
Deputy Ministers responsible
Department executive
  • Manon Leijten, Secretary-General
WebsiteMinistry of Finance

TheMinistry of Finance (Dutch:Ministerie van Financiën; FIN) is theDutch Ministry responsible foreconomic policy,monetary policy,fiscal policy,tax policy,incomes policy,financial regulation, thegovernment budget and thefinancial market. The Ministry was created in 1798 as the Department of Finance of the Batavian Republic. It became the Ministry of Finance in 1876. TheMinister of Finance (Dutch:Minister van Financiën) is the head of the Ministry and a member of theCabinet of the Netherlands. The current Minister isEelco Heinen.

History

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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 aState Secretary has been appointed each formation with responsibility for taxation. The most recent Prime Minister to serve as his own Minister of Finance wasJelle Zijlstra (1966–67).

Responsibilities

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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 theKingdom 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 thefinancial markets,banks and financial transfers.

Organisation

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The ministry is currently headed by one minister and twoState secretary. The ministry's main office is located in the centre ofThe 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 Treasury (financial economic policy), led by theTreasurer-General[2]
    • Agency of the General Treasury
    • Directorate Financing
    • Directorate Financial Markets
    • Directorate Foreign Financial Relations
  • Directorate General for the Budget[3]
    • Directorate Budget Affairs
    • Inspection of National Finances
  • Directorate General for Fiscal Affairs[4]
    • Directorate General Fiscal Policy
    • Directorate Taxation Management
    • Directorate International Affairs and Excise Tax
  • Directorate General for Taxation

It is also responsible for several decentralized services:

Holdings

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A list of all companies (partially owned) by the Dutch government via the Ministry of Finance.[5]

State holdings

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List of companies of which the Ministry of Finance acts merely as shareholder.

Company(abbreviation)ShareSectorCountry of operation
Holland Casino N.V.100%GamblingNetherlands
Invest-NL N.V.100%Finance
De Nederlandse Investeringsbank voor Ontwikkelingslanden N.V.100%
SRH N.V.100%
Centrale Organisatie Voor Radioactief Afval(COVRA)100%Nuclear waste management
Nederlandse Gasunie N.V.(Gasunie)100%EnergyNetherlands
Germany
TenneT Holding B.V.100%
Ultra Centrifuge Nederland N.V.(UCN)100%Netherlands
United Kingdom
Nederlandse Spoorwegen N.V.(NS)100%TransportNetherlands
United Kingdom
Germany
Nederlandse Loterij B.V.99%GamblingNetherlands
Luchthaven Schiphol N.V.69,77%InfrastructureNetherlandsFrance
United States
Australia
Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden N.V.(FMO)51%FinanceNetherlands
BNG Bank50%
Havenbedrijf Rotterdam N.V.29,2%InfrastructureNetherlands
Brazil
Oman
Indonesia
Nederlandse Waterschapsbank N.V.(NWB Bank)17,2%FinanceNetherlands
Air France-KLM14%TransportNetherlands
France
KLM5,92%Netherlands
Thales Nederland1%Defence

Policy holdings

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List of policy holdings in which the role of shareholder and policy maker cannot be unbundled from each other. These companies are (partially) owned by the Ministry of Finance and managed by the relevant ministry.

CompanyShareSectorMinistry
ProRail B.V.100%InfrastructureMinistry of Infrastructure

and Water Management

Netherlands
De Nederlandsche Bank(DNB)100%FinanceMinistry of Finance
EBN B.V.100%EnergyMinistry of Economic Affairs

and Climate Policy

Saba Statia Cable System B.V.(SSCS)100%CommunicationMinistry of the Interior

and Kingdom Relations

Saba
Ontwikkelingsmaatschappij oost Nederland N.V.(Oost NL)54,6%Private equityMinistry of Economic Affairs

and Climate Policy

Netherlands
Industriebank Limburgs Instituut voor Ontwikkeling en Financiering N.V.(LIOF)50%
Noord-Nederlandse Investerings- en Ontwikkelingsmaatschappij N.V.(NOM)50%
Brabantse Ontwikkelings Maatschappij(BOM)49,9%
Investeringsfonds Zeeland B.V.47,3%
Innovation Quarter B.V.40,2%
GasTerra B.V.10%Energy
Dutch Caribbean Air Navigation Service Provider(DC-ANSP)7,95%InfrastructureMinistry of Infrastructure

and Water Management

Curaçao
Winair7,95%TransportSint Maarten
Saba Bank Resources N.V.(Saba Bank)2,8%EnergyMinistry of Economic Affairs

and Climate Policy

Saba

Temporarily financial institutions

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NLFI is the shareholder on behalf of the Dutch Government in the financial institutions that are state-owned as a result of the2008 financial crisis.

CompanyShareSectorCountry of operation
Stichting administratiekantoor beheer financiële instellingen / NL Financial Investments(NLFI)100%FinanceNetherlands
ABN AMRO Bank N.V.56%
Volksbank N.V.100%

See also

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References

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  1. ^(in Dutch)IX Financiën en Nationale Schuld, Rijksoverheid, 18 September 2012
  2. ^"Generale Thesaurie".Rijksoverheid (in Dutch). 22 March 2010. Retrieved1 April 2020.
  3. ^"Directoraat-generaal Rijksbegroting".Rijksoverheid (in Dutch). 22 March 2010. Retrieved1 April 2020.
  4. ^"Directoraat-generaal voor Fiscale Zaken".Rijksoverheid (in Dutch). 22 March 2010. Retrieved1 April 2020.
  5. ^Zaken, Ministerie van Algemene (2020-08-25)."Staatsdeelnemingen in 2019 - Staatsdeelnemingen - Rijksoverheid.nl".www.rijksoverheid.nl (in Dutch). Retrieved2021-03-10.

External links

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Structure and process
Structure
Government
Council of Ministers
Cabinet
Process
International
National
People
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