Cork minister set to become new European Commissioner soon

By Maisie Mould

Minister for Finance and Cork South Central TD Michael McGrath is set to become Ireland’s next European Commissioner.

Minister McGrath was nominated by An Tánaiste and Fianna Fáil leader Micheál Martin, and three coalition leaders discussed the nomination at a meeting on Monday evening.

Minister McGrath stated via social media that he was “delighted” to accept the nomination from the government, and described his last four years in government as “an extraordinary privilege.”

He said on Newstalk on Wednesday morning: “It’s an incredible opportunity to shape politics on an international stage.”

Mr McGrath will continue on as a TD for the next few months, while he goes through a “rigorous ratification process” to become the European Commissioner.

The new role is speculated to carry a pay package of more than €440,000 a year, but he stated on Newstalk on Wednesday: “I was never motivated by money in any decision that I made in my life.”

He also stated on social media: “As I prepare to leave the Department of Finance tomorrow, the Irish economy is in very good health overall.”

“We have full employment with a record 2.71 million at work. Our national debt is falling, and we are achieving large budget surpluses. Our economy has consistently been one of the best performing in the EU.”

He began his career in politics 25 years ago, when he ran for election for the first time at age 22. Before entering politics he qualified as an accountant with KPMG. He has served as Minister for Finance since December 2022.

He has now been replaced as Minister for Finance by Jack Chambers. Mr McGrath said that he has “every confidence” that Deputy Chambers will do “an excellent job”.

He thanked his colleagues and family for their support of his career.