Jack Chambers has been announced as the new Minister for Finance.
He will replace Michael McGrath who has been nominated to become Ireland’s next European Commissioner.
Cabinet this morning signed off on the nomination, which sees one of the Government's most senior ministers departing domestic politics.
Fianna Fáil was handed the opportunity to make the EU nomination as part of an unwritten agreement during Government formation talks.
The party also retained the right to choose Minister McGrath’s replacement in the Finance portfolio – with ministers of State Jack Chambers and Dara Calleary both thought to be in the running.
This afternoon, however, it was confirmed that Minister Chambers has got the nod.
It is the second major vote of confidence he has received from party leader Micheál Martin in a matter of days, following his appointment as Fianna Fáil deputy leader last week.
Finance Minister Michael McGrath speaks to media in Dublin, 29-11-23. Image: Leah Farrell / © RollingNews.ieMichael McGrath has been nominated to Europe some 18 months after taking up the Finance portfolio.
He is one of the most senior politicians Ireland could have sent.
The unwritten rules of appointments to the Commission suggest that if a country sends a more senior politician, they can land a more significant brief.
As such, there are hopes McGrath could command a meaty economic portfolio in the Commission.
Budget
His departure leaves big shoes to just weeks before the Summer Economic Statement - the last major staging post before the budget.
His exit to Europe has come as a surprise to some who viewed him as the next potential leader of Fianna Fáil.
The party will hope to retain his Dáil seat – where his brother Séamus got the highest number of first-preference votes of any councillor in the country at the recent local elections.
