Ontario government announces H. Ian MacDonald visiting economist

Archived Release

Ontario government announces H. Ian MacDonald visiting economist

Ministry of Finance

Timothy O'Neill named TORONTO, May 11 - The Ontario government today announced the establishment of the H. Ian MacDonald Visiting Economist post within the Ministry of Finance. "This government is determined to get the best possible advice it can as it shapes policy for the new Ontario economy," said Finance Minister Greg Sorbara, "H. Ian MacDonald has left an enduring mark on Ontario as an economist, a deputy minister and as President of York University." Professor H. Ian MacDonald is the President Emeritus and Director of York University and the Master of the Public Administration Program. Prof. MacDonald joined the teaching staff at the University of Toronto in 1955. He was appointed Chief Economist, Province of Ontario in 1962 and served as Deputy Treasurer from 1967 to 1972, and Deputy Treasurer and Deputy Minister of Economics and Intergovernmental Affairs from 1972 to 1974. He left the government of Ontario for York University in 1974 and was President until 1984. Prof. MacDonald is a member of the Order of Canada. MacDonald is 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. Inspired by the contribution that H. Ian MacDonald has made to Ontario, the mandate of the post is to provide objective advice to the Ministry on emerging economic challenges and to contribute to economic and fiscal policy development at the most senior level. Occupants of this position are to be recruited from the ranks of prominent Canadian professionals who deal with economic, financial and monetary issues in the business and academic communities or in the public sector. Minister Sorbara announced today that Tim O'Neill, former Executive Vice-President and Chief Economist of the Bank of Montreal will be appointed to the post, effective June 1, 2005. "We are very much looking forward to Dr. O'Neill's insights on strengthening the Ontario economy," said Minister Sorbara. Born in Sydney, Nova Scotia, Dr. 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 Vice-President 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, Dr. 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 holds a Ph.D. in Economics from Duke University.For further information: Michael Arbour, Minister's Office, (416) 325-4138; Manuel Alas-Sevillano, Ministry of Finance, (416) 212-2155; Sean Hamilton, Minister's Office, (416) 325-8679