The Irish Fiscal Advisory Council welcomes the appointment of Mr. Seamus Coffey as its new Chairperson.
Mr. Coffey was appointed to the position by the Minister for Finance, Jack Chambers TD. He was selected from a shortlist of candidates that followed an open competition run by the Public Appointments Service. His four-year term begins immediately.
Professor Michael McMahon, who was the Council’s Acting Chairperson since July 2023, will continue to serve as an ordinary member of the Council.
Welcoming the announcement, the Council’s outgoing Acting Chairperson, Professor Michael McMahon noted:
“It’s great to welcome Seamus back to the Council. He brings a wealth of knowledge and experience to the role and the Council will no doubt continue to play an important role via its analysis and research in Irish macro policy discussions.”
Short Biography
Seamus Coffey is a lecturer in the Department of Economics in University College Cork. His research and writing focuses on the performance of the Irish economy and the public finances.
Seamus was a member of the Irish Fiscal Advisory Council from 2016 and was Chair of the Council from January 2017 until December 2019.
In October 2016, Seamus was appointed the independent expert by the Minister for Finance to undertake a review of Ireland’s Corporation Tax code. He served on the Commission on Pensions which published its report in October 2021. He is also a member of The National Economic and Social Council, the external advisory board to the Irish Governmental Economic Evaluation Service, and is the current president of the Irish Economic Association.
Seamus is a sometime contributor to print, broadcast and online media relating to the Irish economy including fiscal outcomes, corporation tax, household debt, national accounts and other economic issues.
Additional detail
Mr. Coffey’s term of office as a member of the Council begins with immediate effect for a four-year term, with the possibility of reappointment for up to two further four-year terms. This is in line with the Fiscal Responsibility Act 2012, as amended. Mr. Coffey’s appointment as Chair begins tomorrow, 23 August 2024.
The selection process for this appointment followed the “Guidelines for appointments to State Boards” published by the Government in November 2014. The vacancy was advertised on Stateboards.ie and managed by the Public Appointments Service.
In February this year, the Department of Public Expenditure, NDP Delivery and Reform sanctioned a per diem rate of €684 for the Chairperson of the Irish Fiscal Advisory Council, for a maximum of 96 days per annum. In line with the ‘One Person One Salary’ principle, no public servant is entitled to receive remuneration in the form of board fees, save for situations that are statutorily provided for, such as for Worker Directors. Fees in such cases are paid to their employers in the form of a time buy-out. Travel and subsistence is paid at appropriate Civil Service rates.