Two new appointments have been made to Irish Fiscal Advisory Council, the independent body that advises the Government on budget policy. Minister for Finance Michael Noonan has appointed former senior civil servant and energy regulator Michael Tutty and Séamus Coffey, a UCC lecturer in economics.

Mr Tutty’s appointment is effective immediately. His initial term will end on December 31st this year and will be followed by a second term of four years effective from 1 January 1st.

Mr Coffey is appointed for a period of four years with effect from January 1st. The council is chaired by UCG economist John McHale.

Mr Tutty is a retired commissioner for energy regulation. He was vice-president of the European Investment Bank from 2000 to 2004, immediately prior to which he served as second secretary general in the Department of Finance (budget and economic division).

Mr Coffey has written and presented extensively on a broad range of topics relating to the performance and management of the economy.

Much of his work has focused on the fiscal side of the Irish economy including examining budgetary outturns, determining effective tax rates, analysing fiscal rules and exploring their possible consequences for Ireland.

The other members of the council are Sebastian Barnes of the OECD, Dr Róisín O’Sullivan of Smith College, Massachusetts, and Dr Íde Kearney of the Dutch Central Bank.