Politics

Irish Fiscal Advisory Council hits out at government attempt to slash chair’s pay

In a letter to Michael McGrath, Ifac has warned that proposed changes to pay rate of chair will weaken the body

Michael McMahon, the current chair of Ifac, said he had only taken on the vacant role last summer on the understanding that the OECD’s recommendation that the role would be advertised as a ‘;up-to-half-time position# would be implemented . Picture: Fisher Studios

The Irish Fiscal Advisory Council (Ifac) has criticised the government over a proposal to reduce the daily pay of their chairman by 50 per cent, warning that the move will “weaken” the budgetary watchdog and risk damage to the country’s fiscal credibility.

Writing to Michael McGrath, the minister for finance, Ifac outlined their opposition to proposed changes to the terms and conditions of the chairman, Michael McMahon’s role, which would see the number of work ...