The Icelandic Ministry of Finance (Icelandic: ) is responsible for overseeing the finances of the Icelandic government. The Minister for Finance and Economic Affairs is Daði Már Kristófersson.
Organization of the Ministry of Finance The top civil servant in the Ministry of Finance is Baldur Gudlaugsson, who was appointed Permanent Secretary from 1 November 2000.Baldur Gudlaugsson appointed Permanent Secretary, 6 October 2000 From 6 February to 30 April 2009, Indridi H. Thorlaksson is acting Permanent Secretary while Mr. Gudlaugsson is on leave.Indridi H. Thorlaksson installed as acting Permanent Secretary, 5 February 2009 He runs the ministry on a day-to-day basis and is the chief liaison between the Minister and the civil servants. There are six departments of the Ministry of Finance, each of which is headed by a Director-General. The Ministry staff numbers around 80 specialists and support personnel.
Administration Department The Administration Department is responsible for general operations of the Ministry, preparation of the ministry's annual operational budget and supervision of the Ministry's information services. It is headed by Angantyr Einarsson since 1 September 2007.Angantyr Einarsson appointed Director-General, 15 August 2008
Budget Department The Budget Department's main job is to oversee the production of the government's fiscal budget. In addition the Budget Department provides support for the supplementary budget and the government accounts bill. The Budget Office oversees relations with other Ministries and the Parliament concerning the preparation of the Treasury's budget. Nokkvi Bragason is in charge of this department since 1 March 2008.Nokkvi Bragason appointed Director-General, 31 December 2008
Economic Department The Economic Department is in charge of economic studies in Iceland. This involves surveying the economic situation and its prospects, and forecasting economic trends based on macroeconomic models. The Economic Department is also responsible for providing the revenue forecast for the fiscal budget and performing research into tax and benefit systems. The department oversees the Treasury’s domestic and international cooperation concerning economic matters. Thorsteinn Thorgeirsson is Director-General for this department since 1 January 2005.Thorsteinn Thorgeirsson appointed Director-General, 9 November 2004
Financial Management Department The Financial Management Department manages the government's assets and the Treasury fund. This department also ensures the proposed budget is carried out as per legal requirements and that the executive branch is run efficiently. The Director-General of this department is Thorhallur Arason.
Personnel Policy Department The main role of the Personnel Policy Department is to represent the Ministry in labor market matters and to present its views. The department also offers advice on the implementation and interpretation of laws, regulations, agreements and government decisions. The Wage Negotiations Committee of the government operates in close cooperation with the department. Gunnar Bjornsson is in charge of this department.
Taxation and Legal Affairs Department The main task of the department is to deal with tax matters, to draft bills for the Althingi and interpret existing laws. It also conducts research into the impact of existing taxes and tax changes. The Director-General of this department is Marianna Jonasdottir.
National Tax Investigation Police
Goals of the Ministry The Ministry's main goals are: Economic stability and a high standard of living A balanced treasury over the longer term An economical and efficient tax environment Responsible and performance oriented management of state finances Transparent government operations and an effective organizational structure State of staff of the highest quality Delivery of a reliable service with the emphasis on professional work
List of Ministers of Finance
Kingdom of Iceland (1918–1944) MinisterTook officeLeft officeDurationPartyCabinet1 Björn Kristjánsson(1858–1939) 1917 1917( days)Jón Magnússon I2 Sigurður Eggerz(1875–1945) 1917 1920( days)3 Magnús Guðmundsson(1879–1937) 1920 1922( days)Jón Magnússon II4 Magnús Jónsson(1887–1958) 1922 1923( days)Sigurður Eggerz5 Klemens Jónsson(1862–1930) 1923 1924( days)HRP6 Jón Þorláksson(1877–1935) 1924 1927( days)CPJón Magnússon IIIJón Þorláksson7 Magnús Kristjánsson(1862–1928) 1927 1928( days)PPTryggvi Þórhallsson8 Tryggvi Þórhallsson(1889–1935) 1928 1929( days)PP9 Einar Árnason(1875–1947) 1929 1931( days)PP(8) Tryggvi Þórhallsson(1889–1935) 1931 1931( days)PP10Ásgeir Ásgeirsson(1894–1972) 1931 1934( days)PPÁsgeir Ásgeirsson11 Eysteinn Jónsson(1906–1993) 1934 1939( days)PPHermann Jónasson IHermann Jónasson II12 Jakob Möller(1880–1955) 1939 1942( days)IPHermann Jónasson IIIHermann Jónasson IVÓlafur Thors I13 Björn Ólafsson(1895–1974) 1942 1944( days)Ind.Björn Þórðarson
Republic of Iceland (1944–present) MinisterTook officeLeft officeDurationPartyCabinet14 Pétur Magnússon(1888–1948) 1944 1947( days)IPÓlafur Thors II15 Jóhann Þ. Jósefsson(1886–1961) 1947 1949( days)IPStefán Jóhann Stefánsson(13) Björn Ólafsson(1895–1974) 1949 1950( days)IPÓlafur Thors III(11) Eysteinn Jónsson(1906–1993) 1950 1954( days)PPSteingrímur SteinþórssonÓlafur Thors IV16 Skúli Guðmundsson(1924–2002) 1954 1954( days)PP(11)Eysteinn Jónsson(1906–1993) 1954 1958( days)PPHermann Jónasson V17 Guðmundur Í. Guðmundsson(1909–1987) 1958 1959( days)SDPEmil Jónsson18 Gunnar Thoroddsen(1910–1983) 1959 1965( days)IPÓlafur Thors VBjarni Benediktsson19Magnús Jónsson(1919–1984) 1965 1971( days)IPJóhann Hafstein20 Halldór E. Sigurðsson(1915–2003) 1971 1974( days)PPÓlafur Jóhannesson I21 Matthías Árni Mathiesen(1931–2011) 1974 1978( days)IPGeir Hallgrímsson22 Tómas Árnason(1923–2014) 1978 1979( days)PPÓlafur Jóhannesson II23 Sighvatur Björgvinsson(1942–) 1979 1980( days)SDPBenedikt Sigurðsson Gröndal24 Ragnar Arnalds(1938–2022) 1980 1983( days)PAGunnar Thoroddsen25 Albert Guðmundsson(1923–1994) 1983 1985( days)IPSteingrímur Hermannsson I26 Þorsteinn Pálsson(1947–) 1985 1987( days)IP27 Jón Baldvin Hannibalsson(1939–) 1987 1988( days)SDPÞorsteinn Pálsson28 Ólafur Ragnar Grímsson(1943–) 1988 1991( days)PASteingrímur Hermannsson IISteingrímur Hermannsson III29 Friðrik Sophusson(1943–) 1991 1998( days)IPDavíð Oddsson IDavíð Oddsson II30Geir H. Haarde(1951–) 1998 2005( days)IPDavíð Oddsson IIIDavíð Oddsson IVHalldór Ásgrímsson31Árni M. Mathiesen(1958–) 2005 2009( days)IPGeir Haarde IGeir Haarde II32 Steingrímur J. Sigfússon(1955–) 2009 2011( days)LGMJóhanna Sigurðardóttir IJóhanna Sigurðardóttir II33 Oddný G. Harðardóttir(1957–) 2011 2012( days)SDA34 Katrín Júlíusdóttir(1974–) 2012 2013( days)SDA35 Bjarni Benediktsson(1970–) 2013 2017( days)IPSigmundur Davíð GunnlaugssonSigurður Ingi Jóhannsson36 Benedikt Jóhannesson(1955–) 2017 2017( days)RPBjarni Benediktsson(35) Bjarni Benediktsson(1970–) 2017 2023( days)IPKatrín Jakobsdóttir IKatrín Jakobsdóttir II37 Þórdís Kolbrún R. Gylfadóttir(1987–) 2023 2024( days)IP38 Sigurður Ingi Jóhannsson(1962–) 2024 2024( days)PPBjarni Benediktsson II39 Daði Már Kristófersson(1971–) 2024 Incumbent( days)RPKristrún Frostadóttir
References
External links Official site Cabinets since 1917 (in Icelandic)