34 Findings, declarations

1. The Legislature finds and declares that: a. The economic well being of the citizens of the State of New Jersey is directly affected by the actions of government at all levels; b. The quality of public policy and the benefits it provides to the citizens will be enhanced significantly through the availability of timely, objective analyses of the condition of the economy; c. The formulation of public policy will benefit from a fuller understanding of the structure of the State's economy and its competitive position relative to other states and regions; d. Fiscal policy is highly sensitive to economic conditions and will be enhanced through improved economic analyses and forecasts; e. The functioning of the Legislative and the Executive branches of government will be enhanced by the existence of an independent advisory council composed of knowledgeable experts given the resources necessary to provide sophisticated, timely, and objective economic analyses; f. An advisory council dealing with economic affairs will contribute to improving the quality of decision making in both the public and private sectors, with long term benefits for all of the State's citizens; and g. A permanent advisory council composed of economic experts reporting directly and independently to the Legislature, the Executive Branch of government and the public, will best provide the objective and timely analyses needed to assure that public policy yields the optimum economic benefits for all of the State's citizens.