The new ministry was immediately tasked with creating the first annual state budget proposal to be voted on by the Rigsdagen.

The project was overseen by Minister Wilhelm Sponneck, who was 33 years-old at the time he was appointed.

[2] As the amount of money going into the state budget has increased, the ministry has expanded to manage it.

[citation needed] The ministry is headed by the Finance Minister of Denmark (Danish: Finansministeren), a member of the Cabinet.

[3] The current Finance Minister is Nicolai Wammen, appointed by Mette Frederiksen on 27 June 2019.