New fiscal watchdog chief Seamus Coffey warns of challenges

University College Cork economist Seamus Coffey, 39, has been appointed as the head of the Irish Fiscal Advisory Council by Finance Minister Michael Noonan.

Mr Coffey said yesterday that although prospects had improved remarkably since the dark days of the economic crisis, Brexit and the sustainability of corporate tax revenues will be highly challenging.

The Limerick native, who has been a resident of Cork for over 20 years, succeeds John McHale who had chaired IFAC since the watchdog was set up five years ago.