Ministry of Finance (Netherlands) explained

Ministry of Finance
Native Name:Dutch; Flemish: Ministerie van Financiën
Type:Department
Jurisdiction:Kingdom of the Netherlands
Headquarters:Korte Voorhout 7, The Hague, Netherlands
Employees:1,500
Budget:€11.7 billion (2013)[1]
Minister1 Name:Eelco Heinen
Minister1 Pfo:Minister of Finance
Deputyminister1 Name:Folkert Idsinga
Deputyminister1 Pfo:State Secretary for Tax Affairs and the Tax Administration
Deputyminister2 Name:Nora Achahbar
Deputyminister2 Pfo:State Secretary for Benefits and Customs
Chief1 Name:Manon Leijten
Chief1 Position:Secretary-General
Website:Ministry of Finance

The Ministry of Finance (Dutch; Flemish: Ministerie van Financiën; FIN) is the Dutch Ministry responsible for economic policy, monetary policy, fiscal policy, tax policy, incomes policy, financial regulation, the government budget and the financial market. The Ministry was created in 1798 as the Department of Finance of the Batavian Republic. It became the Ministry of Finance in 1876. The Minister of Finance (Dutch; Flemish: Minister van Financiën) is the head of the Ministry and a member of the Cabinet of the Netherlands. The current Minister is Eelco Heinen.

History

The ministry was founded in 1798. In the early history of the ministry, the Prime Minister often served as Minister of Finance. Pieter Philip van Bosse served as Minister of Finance five times. Since 1965 a State Secretary has been appointed each formation with responsibility for taxation. The most recent Prime Minister to serve as his own Minister of Finance was Jelle Zijlstra (1966–67).

Responsibilities

The ministry has the duty to "guard the treasury and aim for a financially sound and prosperous state of the Netherlands.

Organisation

The ministry is currently headed by one minister and two State secretary. The ministry's main office is located in the centre of The Hague at the Korte Voorhout. It employs almost 1,500 civil servants. The civil service is headed by a secretary general and a deputy secretary general, who head a system of four directorates general:

It is also responsible for several decentralized services:

Holdings

A list of all companies (partially owned) by the Dutch government via the Ministry of Finance.[5]

State holdings

List of companies of which the Ministry of Finance acts merely as shareholder.

!Company (abbreviation)!Share!Sector!Country of operation
Holland Casino N.V.100%Gambling
Invest-NL N.V.100%Finance
De Nederlandse Investeringsbank voor Ontwikkelingslanden N.V.100%
SRH N.V.100%
Centrale Organisatie Voor Radioactief Afval (COVRA)100%Nuclear waste management
Nederlandse Gasunie N.V. (Gasunie)100%Energy
TenneT Holding B.V.100%
Ultra Centrifuge Nederland N.V. (UCN)100%
United Kingdom
Nederlandse Spoorwegen N.V. (NS)100%Transport
United Kingdom
Nederlandse Loterij B.V.99%Gambling
Luchthaven Schiphol N.V.69,77%Infrastructure
United States
Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden N.V. (FMO)51%Finance
BNG Bank50%
Havenbedrijf Rotterdam N.V.29,2%Infrastructure

Oman
Nederlandse Waterschapsbank N.V. (NWB Bank)17,2%Finance
Air France-KLM14%Transport
KLM5,92%
Thales Nederland1%Defence

Policy holdings

List of policy holdings in which the role of shareholder and policy maker cannot be unbundled from each other. These companies are (partially) owned by the Ministry of Finance and managed by the relevant ministry.

!Company!Share!Sector!Ministry!
ProRail B.V.100%Infrastructure
De Nederlandsche Bank (DNB)100%FinanceMinistry of Finance
EBN B.V.100%Energy
Saba Statia Cable System B.V. (SSCS)100%Communication
Ontwikkelingsmaatschappij oost Nederland N.V. (Oost NL)54,6%Private equity
Industriebank Limburgs Instituut voor Ontwikkeling en Financiering N.V. (LIOF)50%
Noord-Nederlandse Investerings- en Ontwikkelingsmaatschappij N.V. (NOM)50%
Brabantse Ontwikkelings Maatschappij (BOM)49,9%
Investeringsfonds Zeeland B.V.47,3%
Innovation Quarter B.V.40,2%
GasTerra B.V.10%Energy
Dutch Caribbean Air Navigation Service Provider (DC-ANSP)7,95%Infrastructure
Winair7,95%Transport
Saba Bank Resources N.V. (Saba Bank)2,8%Energy

Temporarily financial institutions

NLFI is the shareholder on behalf of the Dutch Government in the financial institutions that are state-owned as a result of the financial crisis.

Company!Share!Sector!Country of operation
Stichting administratiekantoor beheer financiële instellingen / NL Financial Investments (NLFI)100%Finance
ABN AMRO Bank N.V.56%
Volksbank N.V.100%

See also

External links

Notes and References

  1. IX Financiën en Nationale Schuld, Rijksoverheid, 18 September 2012
  2. Web site: Generale Thesaurie . Rijksoverheid . 22 March 2010 . 1 April 2020 . nl.
  3. Web site: Directoraat-generaal Rijksbegroting . Rijksoverheid . 22 March 2010 . 1 April 2020 . nl.
  4. Web site: Directoraat-generaal voor Fiscale Zaken . Rijksoverheid . 22 March 2010 . 1 April 2020 . nl.
  5. Web site: Zaken. Ministerie van Algemene. 2020-08-25. Staatsdeelnemingen in 2019 - Staatsdeelnemingen - Rijksoverheid.nl. 2021-03-10. www.rijksoverheid.nl. nl-NL.