Cabinet Secretary for Finance and the Economy


The Cabinet Secretary for Finance and the Economy, commonly referred to as the Finance Secretary, is a member of the Cabinet in the Scottish Government. The Cabinet Secretary has Ministerial responsibility for the Scottish Government's Finance Directorates.


Cabinet Secretary for Finance and the Economy
Incumbent
Kate Forbes MSP

since 17 February 2020
Finance Directorates
StyleCabinet Secretary
(within parliament)
Finance Secretary
(informal)
Scottish Finance Secretary
(outwith Scotland)
Member of
Reports toScottish Parliament
SeatEdinburgh
AppointerFirst Minister
Inaugural holderJack McConnell
Minister for Finance
FormationJuly 1999
DeputyRichard Lochhead
(Minister for Just Transition, Employment and Fair Work)
Ivan McKee
(Minister for Trade, Investment and Innovation)
Tom Arthur
(Minister for Public Finance, Planning and Community Wealth)
Salary£112,919 annually (including £64,470 MSP salary)
Websitewww.gov.scot

The finance secretary is supported by the Minister for Just Transition, Employment and Fair Work, Minister for Business, Trade, Tourism and Enterprise and Minister for Public Finance, Planning and Community Wealth.[1]

The post is currently held by Kate Forbes who replaced Derek Mackay on 17 February 2020. She is the first women to hold the position of office and was the first women to deliver the Scottish budget.[2]

History


Following devolution in 1999, the Government of First Minister Donald Dewar instituted the position as the Minister for Finance, which was renamed the Minister for Finance and Local Government in the Government of Henry McLeish from 2000 to 2001. In the first Government of Jack McConnell, from 2001 to 2003, the position was renamed as the Minister for Finance and Public Services, changed to the Minister for Finance and Public Service Reform after a reshuffle of the Second McConnell government in 2004. The first Government of Alex Salmond in 2007 combined the Minister for Finance element, with that of Enterprise and Transport to create the Cabinet Secretary for Finance and Sustainable Growth. After the 2011 election the position was named Cabinet Secretary for Finance, Employment and Sustainable Growth and the transport portfolio was moved under the remit of another Cabinet position. In November 2014, the first Sturgeon government renamed the position to Cabinet Secretary for Finance, Constitution and Economy, and in 2016 it was again renamed to Cabinet Secretary for Finance and the Constitution. It was further renamed to Finance, Economy and Fair Work in June 2018, taking some additional responsibilities from the position of Cabinet Secretary for Economy, Jobs and Fair Work which was abolished, but losing some constitutional responsibilities to the Cabinet Secretary for Government Business and Constitutional Relations.[3] The title was shortened to simply Cabinet Secretary for Finance in February 2020, with the responsibilities of the former Economy Secretary separated again and transferred over to the Cabinet Secretary for Economy, Fair Work and Culture.[4] The economic responsibilities of the Cabinet Secretary for Economy, Fair Work and Culture were again combined with those of the Cabinet Secretary for Finance on 19 May 2021 in the position of Cabinet Secretary for Finance and the Economy.

Overview


Responsibilities

The responsibilities of the Cabinet Secretary for Finance and the Economy include:

  • Scottish budget
  • public finances
  • fiscal policy and taxation
  • economic strategy
  • wellbeing economy
  • trade and inward investment
  • city and regional growth deals
  • enterprise
  • digital economy
  • planning
  • tourism
  • trades unions
  • government procurement
  • local government finance
  • public bodies policy
  • public sector pay

Public bodies

The following public bodies report to the Cabinet Secretary for Finance and the Economy:

List of Office holders


There have been seven office holders since the establishment of Scottish devolution.

Minister for Finance
Name Portrait Entered Office Left Office Party First Minister
Jack McConnell 19 May 1999 26 October 2000 Scottish Labour Party Donald Dewar
Minister for Finance and Local Government
Angus Mackay 26 October 2000 22 November 2001 Scottish Labour Party Henry McLeish
Minister for Finance and Public Services
Andy Kerr 22 November 2001 4 October 2004 Scottish Labour Party Jack McConnell
Minister for Finance and Public Service Reform
Tom McCabe 4 October 2004 17 May 2007 Scottish Labour Party Jack McConnell
Cabinet Secretary for Finance and Sustainable Growth
John Swinney 17 May 2007 19 May 2011 Scottish National Party Alex Salmond
Cabinet Secretary for Finance, Employment and Sustainable Growth
John Swinney 19 May 2011 21 November 2014 Scottish National Party Alex Salmond
Cabinet Secretary for Finance, Constitution and Economy
John Swinney 21 November 2014 18 May 2016 Scottish National Party Nicola Sturgeon
Cabinet Secretary for Finance and the Constitution
Derek Mackay 18 May 2016 26 June 2018 Scottish National Party Nicola Sturgeon
Cabinet Secretary for Finance, Economy and Fair Work
Derek Mackay 26 June 2018 5 February 2020 Scottish National Party Nicola Sturgeon
Cabinet Secretary for Finance
Kate Forbes 17 February 2020 20 May 2021 Scottish National Party Nicola Sturgeon
Cabinet Secretary for Finance and the Economy
Kate Forbes 20 May 2021 Incumbent Scottish National Party Nicola Sturgeon

See also


References


  1. "Cabinet Secretary for Finance and the Economy - gov.scot". www.gov.scot. Retrieved 6 June 2021.
  2. "kate forbes first women to deliver scottish budget - Google Search". www.google.com. Retrieved 6 June 2021.
  3. "New Cabinet appointed". Scottish Government. 26 June 2018. Retrieved 27 June 2018.
  4. "Cabinet Appointments". Scottish Government. 17 February 2020.