IFAC's replacement of Seamus Coffey could take months

IFAC's replacement of Seamus Coffey could take months

Naming a successor to Seamus Coffey as head of the Irish Fiscal Advisory Council (Ifac) will likely take months should talks to form a new government drag on.

Mr Coffey’s four-year term as chair of the budget watchdog came to an end on December 31, and the University College Cork economist is believed to have turned down taking up a second term.

The chair of Ifac, which is on a statutory footing, is chosen by the finance minister, which means any new appointment won’t be made until a new government is in place. The work of Ifac will continue, a spokesman for the Department of Finance said. Mr Coffey was noted for the 2017 Coffey Report he prepared for the department into the sustainability of corporate finance receipts. Ifac has repeatedly said the economy doesn’t need additional fiscal stimulus and has encouraged spending backed by sustainable revenues.

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