Jack Chambers appointed Finance Minister as Michael McGrath nominated for EU Commission

Mr Chambers (33), who was made deputy leader of Fianna Fáil last week, will become the country’s youngest finance minister since Michael Collins.

Tánaiste and Fianna Fáil leader Micheál Martin said the Dublin West TD is “very able and intelligent”.

The promotion comes as Mr McGrath is set to become Ireland’s 12th EU Commissioner when Taoiseach Simon Harris puts his name forward at a meeting of the European Council this week.

The Tánaiste said Mr McGrath has “ensured a shrewd stewardship” of the economy and said one of his “great legacies” will be the Future Ireland Fund.

He said “nobody can doubt” Mr McGrath’s “high calibre”.

Mr McGrath said the nomination is an “incredible honour” and thanked his wife Sarah and his family.

He has said an economic or financial portfolio would “seem to be an obvious area” where his skills could be used at the European level.

Asked about what portfolio he would hope to get, Mr McGrath said: “It is something we will discuss collectively over the days ahead”.

“Obviously, the background I have, my own qualifications, my political experience, all lie in the broad economic and financial area and that would seem to be an obvious area where my skills can be deployed.

“As you know, when it comes to the allocation of different portfolios by the president of the Commission, there are many factors that come into play.”

The Taoiseachsaid Mr McGrath is a nominee “everybody in the Irish government will proudly get behind”.

“As a Government and as a country, I believe we are lucky to have a person of such high ability and standing to bring forward as our country’s nominee,” he said.

“Michael is a very good colleague, a dedicated public servant, a skilled minister, and an extremely diligent and hard worker.

“These qualities, and indeed the experience he has developed at a European level as our finance minister, and many other qualities that he possesses, as both a politician and a person, will be key to his success.

“His new role though will not only be above party politics, but also above national politics too.”

Since being re-elected to the Dáil in 2020, he has held a number of minister of state roles.

He was junior minister in the Finance Department for just two weeks before moving up to become Government Chief Whip until 2022. He was also a Minister of State for Sport and the Gaeltacht and in the Department of Defence.

Following Leo Varadkar’s 2022 reshuffle, he was moved to become Minister of State at both the Department of Transport and the Department of the Environment.

Today’s News in 90 Seconds – Tuesday June 25

The nomination of Mr McGrath to the EU Commission by the Tánaiste was discussed at a meeting of the three Government party leaders on Monday evening.

Mr McGrath will earn more than €300,000-a-year in the position and will benefit from a range of lucrative allowances and expenses available to European Commissioners.

He will succeed Fine Gael-nominated commissioner Mairead McGuinness.

The departure of the Cork South Central TD from Government will necessitate at least a mini-reshuffle of the Fianna Fail-held portfolios.