Mr Colin Hunt, the chief economist at Goodbody Stockbrokers, has been appointed to work as special adviser with the new Minister for Transport, Mr Cullen. He will take up the new position on Monday.

Mr Hunt has worked with Goodbody for the past six years as chief economist and more recently as director of research. In these roles he has been a prominent commentator on economic affairs. He was a strong supporter of the policies of the current Government, particularly the outgoing Minister for Finance, Mr McCreevy.

He is also a board member of the Rail Procurement Agency which has planned the LUAS network, a position he will also now vacate on taking up his new appointment.

Mr Hunt's salary in his new position is not being disclosed for the moment. Normally the State matches or adds a small premium to the salary of private sector workers who take up such positions. However, salaries in the financial sector are high and it is understood that Mr Hunt's package in his new post will not match his previous remuneration.

Like Mr Cullen, Mr Hunt comes from Waterford city. He is a graduate of UCC where he took an economics degree.

Prior to working in Goodbody Stockbrokers he had worked in other positions in the financial sector.

Speaking last night he said that the offer to work with Mr Cullen was a "very interesting and very challenging role and one which I could not let pass".

The Minister for Transport faces a full agenda, with key decisions to be made on the future of Aer Lingus and Aer Rianta, pressure to accelerate the building of new roads and decisions to be made on the Metro project or an alternative plan being put forward by CIÉ. Mr Cullen has recently indicated that he intends to join up the two LUAS lines and said work should be under way on this by 2007.