Tasks and responsibilities

The Finance Committee addresses two primary areas:

• funding legislation 
• general financial policies 

Legislation related to funding is a key task

The Finance Committee plays a prominent role in the Danish budgeting and appropriation system. The committee’s work focuses mainly on addressing legislation related to funding, including applications for funding from ministers and scrutiny of how funding is spent.

At its meetings, the committee regularly processes applications for funding. Once the Finance Committee has approved an application, the relevant minister can usually process the matter in question as if the funding were already granted by law. 

Financial policies are another key task

Financial policies generally and debating overall priorities are other key tasks of the Finance Committee. 

The committee meets twice a year with the Chair of the Danish Economic Councils and once a year with the Board of Governors of Danmarks Nationalbank (the central bank of Denmark), who update committee members on the current economic situation and socio-economic affairs.

Three times a year, the Danish Ministry of Finance produces an Economic Survey. The survey is submitted to the committee prior to publication. The Economic Survey covers many areas, including, for example, the Ministry of Finance’s review of economic development and its prognosis for the Danish economy in the coming years. The committee then invites the Minister for Finance to consultations on the survey.  

Study trips and conferences

The committee occasionally makes study trips abroad, to gather knowledge and inspiration. Committee members often participate in international congresses, usually under the auspices of the EU, OECD, the World Bank and IMF (the International Monetary Fund).