Minister McGrath makes appointment to the Irish Fiscal Advisory Council

The Minister for Finance, Michael McGrath TD, has appointed a new member to the Irish Fiscal Advisory Council, Professor Stephen Millard, who will be taking up his appointment on 17 June 2024.

Professor Millard was appointed from a panel of shortlisted candidates set up following an open selection process through the Public Appointments Service held earlier this year. The appointment will fill an existing vacancy on the Council and therefore, Mr. Millard’s term of office will run until 31 December 2024, 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.

Minister McGrath said:

“I wish to congratulate Professor Stephen Millard and wish him well in his new role on the Irish Fiscal Advisory Council. The Council plays an important part in our budgetary process and continues to make a valuable contribution to the public debate around the economic and fiscal issues facing the State.”

Short Biography

Stephen Millard is the Deputy Director of Macroeconomic Modelling and Forecasting at the National Institute of Economic and Social Research (NIESR) in the U.K., with a PhD in Economics from Northwestern University. Prior to joining NIESR, Stephen worked for 26 years at the Bank of England in a variety of policy, research and managerial roles across the Bank’s Monetary Analysis and Financial Market Infrastructure Directorates. He has also been a Visiting Professor at the Durham University Business School since 2011 and at the University of Portsmouth since October 2021.

Professor Millard has published papers in the Economic Journal, the Journal of the European Economic Association, the Journal of Economic Dynamics and Control, Applied Economics, Economics Letter, the International Journal of Central Banking, the Oxford Review of Economic Policy and Oxford Economic Papers.

Selection process

The selection process for this appointment was undertaken in accordance with 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.

Details on the Irish Fiscal Advisory Council, including board members, are available at www.fiscalcouncil.ie