Government's new Principal Economic Policy Advisor will be paid $100,000 for his one year contract, Finance Minister Eugene Cox revealed on Friday.

Shadow Minister of Finance Grant Gibbons asked Mr. Cox what terms for employment were agreed upon for the hiring of Dr. Andrew Brimmer on behalf of Government. Mr. Cox said: "Dr. Brimmer has been hired in a consulting role.

He will support the work of the Economic Policy Committee in his role as advisor to the Minister of Finance.'' The Minister also informed Parliament about the new Economic Policy Committee.

"The Economic Policy Committee, a Ministerial level committee, will serve as the coordinating body for changes to existing economic and financial policy and/or the introduction of any new economic or financial policy.''