Ministry of the Economy and Finance (France)

The Ministry of the Economy and Finance (French: Ministère de l'Économie et des Finances, pronounced [ministɛʁ dᵊ lekɔnɔmi e defiˈnɑ̃s]), informally referred to as Bercy, is one of the most important ministries in the Government of France. Its minister is one of the most prominent cabinet members after the Prime Minister. The name of the ministry has changed over time; it has included the terms "economy", "industry", "finance" and "employment" through history.

Minister of the Economy and Finance
Ministre de l'Économie et des Finances
Incumbent
Bruno Le Maire
since 17 May 2017
StyleMister the Minister
Member ofCouncil of Ministers
Reports toPresident of the Republic
and to Parliament
ResidenceBercy
SeatParis, France
AppointerPresident of the Republic
Term lengthNo fixed term
Remains in office while commanding the confidence of the National Assembly and the President of the Republic
Constituting instrumentConstitution of 4 October 1958
PrecursorThe title of "Minister of Finance" has existed since 1518 in the Ancien Régime
Formation23 July 1958
First holderAntoine Pinay
Salary€9,940 per month
Websitewww.economie.gouv.fr

Responsibilities

The Minister of the Economy and Finance oversees:

  • the drafting of laws on taxation by exercising direct authority over the Tax Policy Board (Direction de la législation fiscale) of the Departement of Public Finances (Direction générale des Finances publiques), formerly the Department of Revenue (Direction générale des impôts);
  • national funds and financial and economic system, especially with the Office of the Treasurer and Receiver General (Direction générale du Trésor et de la politique économique), not to be confused with the Public Treasury (Trésor public), that is the Office of the Comptroller-General (Direction générale de la comptabilité publique) under the authority of the Minister of Public Action and Accounts);
  • the development, regulation and control of economy including industry, tourism, small business, competition, and consumer security, and other matters excluding energy, industrial security, environmental affairs and transportations which are under the authority of the Ministry of Ecology;
  • employment policies and career education.

The officeholder, who has authority on the financial assets of the state, the financial and economic national system and the taxation rules overall, also represents France in the Economic and Financial Affairs Council (ECOFIN).

Location
Seat of the Ministry of the Economy and Finance at Bercy

The Ministry of the Economy and Finance is situated in Bercy, in the 12th arrondissement of Paris. The building it shares with the Ministry of Public Action and Accounts extends to the Seine, where there is an embarcadero with fast river boats for faster liaisons to other government agencies. It is also served by Paris Métro Line 6 and Line 14 at Bercy station.

The saying "the Bercy Fortress" (French: la forteresse de Bercy) refers to the Ministry as a dark department with obtuse civil servants, especially of high rank. This is emphasised by the impressive look of the building.

Organisation

Bruno Le Maire has been Minister of the Economy and Finance since 2017. In the government of Prime Minister Jean Castex, he is assisted by three junior ministers: Olivier Dussopt as Minister for Public Accounts, Agnès Pannier-Runacher as Minister for Industry and Alain Griset as Minister for Small and Medium-Sized Enterprises.

See also
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