Program directory · Department of Finance Canada
Financial Sector Policy
- Department
- Department of Finance Canada
- Program code
- BUV05 (FIN)
- Core responsibility
- Economic and Fiscal Policy
- In Departmental Plans
- 2018-19 – 2026-27 · New since an earlier plan
What it does
This Program provides analysis, research and advice to ministers and senior government officials so that they can make informed decisions on matters that impact the Government of Canada’s financial sector policy agenda. The Program ensures the overall stability, soundness, efficiency and competitiveness of Canada’s financial sector to support strong and sustainable economic growth. The Program also provides analysis of Canada’s financial services sector and financial markets, and develops the legislative and regulatory frameworks for federally regulated financial institutions (banks, trust and loan companies and insurance companies); federally regulated pension plans and the payments system, to combat money laundering and terrorist financing. This program also represents Canada at international forums, and in conducting Canada’s relations, and in negotiating Canada’s commitments, with foreign governments in the area of trade in financial services. The Program works with provinces and territories to improve the capital markets regulatory system. The Program manages the currency system, which involves the production of banknotes by the Bank of Canada and the circulation of coinage by the Royal Canadian Mint.
Source: the department's Program Inventory, via GC InfoBase.
History and lineage
First appears in GC InfoBase's actual spending by program in 2018-19. The data does not record when a program was created; it may be older than its first appearance here, which is limited by the sources (program spending starts in 2010-11, Departmental Plans in 2018-19).
| Program | Relation | Years with data | Actual spending over those years |
|---|---|---|---|
| Financial Sector Policy | This program | 2018-19 – 2028-29 | $268M |
No earlier or later program in the same department has a similar name.
Significant changes in scope and budget
Detected from the data: renames between plans, programs it appears to replace, merge with or split into (matched by name), year-over-year changes in spending of at least 25% and $5M, or in employees of at least 20% and 25 FTEs, linked budget measures, and results indicators added or dropped.
| Year | What changed | Source |
|---|---|---|
| 2019-20 | Spending $14.5M, against $102M in 2018-19 (−86%). | Actual spending (GC InfoBase) |
| 2020-21 | Spending $67.7M, against $14.5M in 2019-20 (+368%). | Actual spending (GC InfoBase) |
| 2021-22 | Spending $16.1M, against $67.7M in 2020-21 (−76%). | Actual spending (GC InfoBase) |
Success criteria
The program's indicators from its department's Departmental Results Framework: the target set in each year's plan, and the result reported the following year. Source: GC InfoBase.
Historical: targets against results
| Report year | Target | Due | Result | Status |
|---|---|---|---|---|
| 2018-19 | Favourable | 2019 | No audits and/or evaluations occurred for this program in 2018-19. No audits and/or evaluations occurred for this program in 2018-19. | Met |
| 2019-20 | Favourable | 2020 | No audits and/or evaluations occurred for this program in 2019-20. Not applicable for 2019-20. | No result reported |
| 2020-21 | Favourable | 2021 | There were no internal audits or evaluations for the Financial Sector Policy Branch. | Met |
| 2021-22 | Favourable | 2022 | No audits and/or evaluations occurred for this program in 2021-22. | Met |
| 2022-23 | Favourable | 2023 | No audits and/or evaluations occurred for this program in 2022-23. | No result reported |
| 2023-24 | Favourable | 2024 | No audits and/or evaluations occurred for this program in 2023-24. | No result reported |
| 2024-25 | Favourable | 2025 | na | No result reported |
Bars: result reported. Dashed line: target.
| Report year | Target | Due | Result | Status |
|---|---|---|---|---|
| 2018-19 | ≥ 90% | 2019 | 100% | Met |
| 2019-20 | ≥ 90% | 2020 | 95% 95% of agreed upon deadlines for briefing material were met. | Met |
| 2020-21 | ≥ 90% | 2021 | 90% The Financial Sector Policy Branch performed favourably. The vast majority of agreed upon deadlines for briefing materials were met. Those that were not met for the exact deadline were fulfilled shortly thereafter. | Met |
| 2021-22 | ≥ 90% | 2022 | 90% The Financial Sector Policy Branch performed favourably. The vast majority of agreed upon deadlines for briefing materials were met. Those that we not met for the exact deadline were fulfilled shortly thereafter. | Met |
| 2022-23 | ≥ 90% | 2023 | 90% | Met |
| 2023-24 | ≥ 90% | 2024 | 90% | Met |
| 2024-25 | ≥ 90% | 2025 | 90% | Met |
Current: the 2026-27 plan's targets
| Report year | Target | Due | Result | Status |
|---|---|---|---|---|
| 2026-27 | Favourable | 2027 | — | Planned |
Bars: result reported. Dashed line: target.
| Report year | Target | Due | Result | Status |
|---|---|---|---|---|
| 2026-27 | ≥ 90% | 2027 | — | Planned |
Future goals: targets due after 2026-27
No targets with a later due date.
Spending and employees: planned against actual
Spending
Show the numbers
| Fiscal year | Planned | Actual |
|---|---|---|
| 2018-19 | $13.7M | $102M |
| 2019-20 | $15.1M | $14.5M |
| 2020-21 | $15.7M | $67.7M |
| 2021-22 | $17.7M | $16.1M |
| 2022-23 | $22.1M | $20M |
| 2023-24 | $21.9M | $23.1M |
| 2024-25 | $23.3M | $24.2M |
| 2025-26 | $27.5M | — |
| 2026-27 | $22M | — |
| 2027-28 | $18.3M* | — |
| 2028-29 | $14.4M* | — |
Employees (FTEs)
Show the numbers
| Fiscal year | Planned | Actual |
|---|---|---|
| 2018-19 | 88 | 99 |
| 2019-20 | 91 | 101 |
| 2020-21 | 92 | 100 |
| 2021-22 | 103 | 110 |
| 2022-23 | 119 | 120 |
| 2023-24 | 116 | 131 |
| 2024-25 | 126 | 140 |
| 2025-26 | 132 | — |
| 2026-27 | 121 | — |
| 2027-28 | 101* | — |
| 2028-29 | 99* | — |
Planned spending, plan by plan
Each row is one year's Departmental Plan and its forecast for the next three fiscal years; read a column down to see how the forecast for one year changed. The last row is what was actually spent. Click an amount for its source. Biggest changes in federal spending plans
| Plan | 2018-19 | 2019-20 | 2020-21 | 2021-22 | 2022-23 | 2023-24 | 2024-25 | 2025-26 | 2026-27 | 2027-28 | 2028-29 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2018-19 plan | $13,748,150 | $13,263,154 | $13,263,154 | ||||||||
| 2019-20 plan | $15,101,218 | $14,573,770 | $14,090,457 | ||||||||
| 2020-21 plan | $15,655,438 | $15,293,963 | $15,350,993 | ||||||||
| 2021-22 plan | $17,716,044 | $17,820,158 | $17,706,988 | ||||||||
| 2022-23 plan | $22,139,590 | $21,217,912 | $18,532,969 | ||||||||
| 2023-24 plan | $21,857,135 | $19,412,942 | $18,180,794 | ||||||||
| 2024-25 plan | $23,279,831 | $22,120,240 | $21,075,775 | ||||||||
| 2025-26 plan | $27,507,112 | $25,944,528 | $22,556,878 | ||||||||
| 2026-27 plan | $22,022,051 | $18,264,547 | $14,406,698 | ||||||||
| Actual | $102,414,066 | $14,478,995 | $67,718,084 | $16,057,175 | $19,953,125 | $23,129,650 | $24,219,638 |
Actual spending is from Departmental Results Reports and the Public Accounts, as published in GC InfoBase. FTEs are full-time equivalents.
