Department of Finance (Ireland) - Overview

Overview

The Department of Finance has a central role in implementing Irish Government policy, in particular the Programme for Government, and in advising and supporting the Minister for Finance and the Government on the economic and financial management of the State and the overall management and development of the public sector. According to the Ministers and Secretaries Act 1924 the Department of Finance is responsible for ".... the administration and business generally of the public finance of Ireland and all powers, duties and functions connected with the same, including in particular, the collection and expenditure of the revenues of Ireland from whatever source arising...."

A government order in 1980 allocated additional functions to the Department of Finance. These functions are principally to promote and coordinate economic and social planning, including sectoral and regional planning, to identify development policies, to review the methods adopted by departments of state to implement such policies and generally to advise the government on economic and social planning matters. Under a government order of March 1987, the functions of the former Department of the Public Service were also transferred to the Department of Finance.

There are a number of divisions within the Department of Finance. They are:

• Financial Services Division – deals with policy and legislation on the regulation of the financial services sector and the stability of the financial system
• Budget Taxation and Economic Division – deals with overall budgetary policy; economic policy and forecasting; and taxation policy
• Sectoral Policy Division – deals with sectoral policy advice and formulation in conjunction with the responsible departments; and public expenditure management issues
• Public Services Management and Development – deals with public service modernisation, public service pay and conditions and public service policy