Newly formed economic advisory council to meet for first time on Canadian economy

Finance Minister Bill Morneau calls budget spending ‘bold’
WATCH ABOVE: Finance Minister Bill Morneau calls budget spending 'bold'

OTTAWA – Finance Minister Bill Morneau is presiding today over the inaugural meeting of his economic advisory council.

The group includes 14 business and academic leaders who will help the federal government draw up a plan to boost Canada’s long-term productivity and growth.

Morneau and several of his cabinet colleagues will meet with council members north of Ottawa in Chelsea, Que.

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The government says one of the council’s primary goals is to find ways to transform the Canadian economy over the very long term.

The group is expected to look for solutions that will address concerns such as helping more graduates find jobs out of university and managing the looming economic challenges posed by the aging population.

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The government says the council will also explore ways Canada can take advantage of its skilled workforce, available resources and strong fiscal position.