Federal Ministry of Finance (Austria)

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Federal Ministry for Finance
Bundesministerium für Finanzen logo.svg
Agency overview
Formed 1848; 169 years ago (1848)
Jurisdiction Austrian Federal Government
Headquarters Himmelpfortgasse 8, Innere Stadt, Vienna
Agency executive
Website www.bmf.gv.at

The Federal Ministry of Finance (German: Bundesministerium für Finanzen, abbreviated BMF or Finanzministerium) is the cabinet-level finance ministry of the Austrian Federal Government. Its seat is at the former city palace of Prince Eugene of Savoy in the Austrian capital Vienna. The current Federal Minister of Finance is Hans Jörg Schelling (ÖVP).

Structure and function[edit]

The Ministry is responsible for revenue administration on federal level, including the government budget, matters of finance concerning the European Union, taxes, duties and tariffs. It defines and conducts the country's budgetary policy, concerning currency, credit, savings bank (Sparkassen) and exchange matters, capital movements and settlement, insurance control and hallmarks. It is also concerned with economic policy, if not discharged by the Federal Ministry for Economics.

The Finance Minister and his General Secretary chair six departments (Sektionen):

History[edit]

Prince Eugene city palace, Vienna

A first Hofkammer (court chamber) stewardship for the Austrian lands was established in Vienna by Archduke Ferdinand I, in order to balance the deficient Habsburg budget. Re-established by Maria Theresa in 1760, the chamber upon the Revolutions of 1848 became the k.k. Finance Ministry of the Austrian Empire and took its seat at the Prince Eugene palace.

After the Austro-Hungarian Compromise of 1867 the Austrian Finance Minister was only responsible for the Cisleithanian crown lands, while for the common financial policy of the real union, a separate Austro-Hungarian k.u.k. Finance Ministry was established. After World War I, the First Austrian Republic implemented a Staatsamt für Finanzen, which was renamed upon the adoption of the Austrian Constitution (B-VG) in 1920.

Federal Ministers, 1945-present[edit]

Federal Minister for Finance
No. Name Birth and death Inauguration End of term Party
1 Georg Zimmermann 1897–1958 20 December 1945 8 November 1949 Non-partisan
2 Eugen Margarétha 1885–1963 8 November 1949 23 January 1952 ÖVP
3 Reinhard Kamitz 1907–1993 23 January 1952 17 June 1960 Non-partisan
4 Eduard Heilingsetzer 1905–1997 17 June 1960 11 April 1961 ÖVP
5 Josef Klaus 1910–2001 11 April 1961 27 March 1963 ÖVP
6 Franz Korinek 1907–1985 27 March 1963 2 April 1964 ÖVP
7 Wolfgang Schmitz 1923–2008 2 April 1964 19 January 1968 ÖVP
8 Stephan Koren 1919–1988 19 January 1968 21 April 1970 ÖVP
9 Hannes Androsch * 1938 21 April 1970 20 January 1981 SPÖ
10 Herbert Salcher * 1929 20 January 1981 10 September 1984 SPÖ
11 Franz Vranitzky * 1937 10 September 1984 16 June 1986 SPÖ
12 Ferdinand Lacina * 1942 16 June 1986 6 April 1995 SPÖ
13 Andreas Staribacher * 1957 6 April 1995 3 January 1996 SPÖ
14 Viktor Klima * 1947 3 January 1996 28 January 1997 SPÖ
15 Rudolf Edlinger * 1940 28 January 1997 4 February 2000 SPÖ
16 Karl-Heinz Grasser * 1969 4 February 2000 11 January 2007 FPÖ
Non-partisan from 2003
17 Wilhelm Molterer * 1955 11 January 2007 2 December 2008 ÖVP
18 Josef Pröll * 1968 2 December 2008 21 April 2011 ÖVP
19 Maria Fekter * 1956 21 April 2011 16 December 2013 ÖVP
20 Michael Spindelegger * 1959 16 December 2013 1 September 2014 ÖVP
20 Hans Jörg Schelling * 1953 1 September 2014 ÖVP

See also[edit]

  • Thomas Wieser – former Director General for Economic Policy and Financial Markets

External links[edit]