Premier Appoints Panel of Economic Advisors

NOTE: A social media version of this release including photos and audio clips is available at gov.ns.ca/news/smr/2009-08-18-economic-panel.asp .

Premier Darrell Dexter today, Aug. 18, announced the first step in response to the financial challenges outlined in Deloitte's independent financial review by appointing a panel of four economic advisors.

The panel will define major policy challenges arising from the Deloitte report and identify options for government.

"The previous government was on an unsustainable path to a $1.3-billion deficit. The appointment of this panel is the first step down a new path for Nova Scotians," said Premier Darrell Dexter. "The Deloitte report tells Nova Scotians where the province stands today, but what is even more important is where the province goes from here."

The panel will help establish an understanding of what government needs to do over the next four years. It will provide recommendations for policy initiatives in areas such as expenditure management, revenue generators, economic growth and ways to make life more affordable for Nova Scotians.

The core members of the panel are Donald Savoie, Canada Research Chair in Public Administration and Governance at the Université de Moncton; Elizabeth Beale, president of Atlantic Provinces Economic Council (APEC); Tim O'Neil, former vice-president of the Bank of Montreal and past-president of APEC; and Lars Osberg, research professor with the Department of Economics at Dalhousie University.

"These experts are highly credible and are widely recognized for their experience and I look forward to working with them," said Premier Dexter.

Meeting economic challenges requires a determined and innovative policy approach. The advisory panel will provide government and Nova Scotians with analysis and options that will shape government's thinking about fiscal and economic measures. The panel is expected to complete its work this fall.