Secretary to the Treasury Caralee McLiesh has announced the appointment of Dominick Stephens as Deputy Secretary, Chief Economic Advisor.

"Dominick Stephens is a highly valued and respected member of the Treasury’s executive leadership team," says Caralee McLiesh. "He has been our acting Chief Economic Advisor since March 2021 while on secondment from Westpac New Zealand. I’m delighted that this is now a permanent appointment and that Dominick will carry on in the role as a key member of the Te Tai Ōhanga team.

"During 2021 Dominick oversaw the refresh of our Living Standards Framework, ensuring the Treasury’s policy advice on lifting living standards for all New Zealanders continues to be strengthened by solid economic theory and evidence. He has also played a central part in our business outreach and economic monitoring during the COVID-19 pandemic, as well as advice on key policy areas including housing markets.

"The Chief Economic Advisor role has responsibility for supporting and strengthening economic analysis in the Treasury, and providing leadership across the public sector to promote the use of high quality economic analysis and advice.

"Dominick’s wealth of experience, expertise and leadership means this work is in good hands."

Dominick Stephens succeeds Tim Ng who held the position of Chief Economic Advisor for 4 years from November 2016 to March 2021. Tim Ng is currently completing his PhD at Victoria University.

"Tim has made a tremendous contribution as Chief Economic Advisor, and I am very pleased that he will continue to provide his expertise to the Treasury on a part-time basis while he completes his studies," says Caralee McLiesh.

Prior to joining the Treasury, Dominick Stephens was Chief Economist at Westpac New Zealand for a decade, leading its team providing forecasts and research on the New Zealand economy. He is a respected analyst, advisor and commentator on a range of economic and market issues, from housing policy to monetary policy and climate change. He was formerly an Economist in the Reserve Bank of New Zealand’s forecasting team and Modelling unit.

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