May 16, 1996
(Executive Council)

Economic Advisory Boards Consolidated

Premier Brian Tobin announced today that a new board will be formed to advise government on economic issues. This new board, announced in the budget as part of government's effort to realize efficiencies and eliminate duplication, will replace three existing economy-related advisory boards. These include: the Advisory Council on the Economy (ACE); the Newfoundland and Labrador Science and Technology Advisory Council (NLSTAC); and the Round Table on the Environment and the Economy (RTEE).

The new board will consist of a chairperson and members drawn from the private sector to provide advice to government on economic issues. The board will report to the premier.

The premier added that, while government must consider every opportunity to save money, it also realizes the important function that the existing boards have performed. He said, "At a time when we face daunting fiscal challenges, the creation of this new board will in fact save more then $300,000, while at the same time, ensuring that government continues to receive the valuable advice from the private sector."

Contact: John Downton, Director of Public Relations, 729-4781.