Tim O’Neill, Ontario’s first visiting economist, has begun his new role of providing objective advice to the Ministry of Finance on emerging economic challenges and on economic and fiscal policy, Finance Minister Greg Sorbara announced today.

“This government is determined to get the best possible advice as it shapes policy for the new Ontario economy,” said Sorbara. “We are very much looking forward to Dr. O’Neill’s insights on strengthening the Ontario economy.”

O’Neill brings to his new responsibilities extensive experience in the private, academic and government sectors. He joined the Bank of Montreal in 1993 as senior vp and deputy chief economist before being appointed to lead the economics division in 1994. He held the position of president of the Atlantic Provinces Economic Council from 1988 to 1993. Prior to that, he taught in the Department of Economics at St. Mary’s University for 12 years. He has also served as an advisor and consultant to the federal government and to several provincial governments.

Throughout his career, O’Neill has focused extensively on the structure and performance of the North American economy. He is currently a member of the National Statistics Council and a member of the Monetary Policy Council of the C.D. Howe Institute. He is the first Canadian economist to be elected to the board of the Washington-based National Association of Business Economics. He served as vice-president in 2002 and president in 2003. He holds a Ph.D. in Economics from Duke University.

The visiting economist post was established in honour of Ian MacDonald who was responsible for modernizing the Ontario Ministry of Finance by adding economic analysis and forecasting as well as tax policy analysis to the responsibilities of the ministry. He served as chief economist, Province of Ontario from 1962 to 1967, as deputy treasurer from 1967 to 1972, and deputy treasurer and deputy minister of Economics and Intergovernmental Affairs from 1972 to 1974.

Occupants of the visiting economist position will be recruited from the ranks of prominent Canadian professions that deal with economic, financial and monetary issues in the business and academic communities or in the public sector.