The federal Department of Finance has established an Economic Advisory Council to advise the government on the 2009 budget and on an ongoing basis afterward, Finance Minister Jim Flaherty announced on Thursday.

The council will include 11 business and academic leaders from across Canada.

“In this time of unprecedented economic turmoil, I am bringing some of Canada’s best minds together to find solutions and help launch a timely recovery,” said Flaherty. “I will look to this group for advice on Budget 2009, and will continue to consult them in the months ahead.”

The council will meet with Flaherty in advance of the January 27 budget, with an expected first meeting prior to Christmas.

The council members include:

> Carole Taylor (chairwoman);
> Geoff Beattie;
> Paul Desmarais, Jr.;
> George Gosbee;
> Isabelle Hudon;
> James D. Irving;
> Mike Lazaridis;
> Jack Mintz;
> James A. Pattison;
> Ajit Someshwar;
> Annette Verschuren.

The council members have agreed to a salary of $1, with their expenses being reimbursed by the government, according to Flaherty.

IE