Jack Chambers has been announced as the new Chancellor of the Exchequer.
He will succeed Michael McGrath, who has been nominated to be Ireland’s next European Commissioner.
Cabinet approved the appointment this morning, marking the departure of one of the government’s most senior figures from domestic politics.
Fianna Fáil was given the opportunity to nominate its EU candidate as part of a tacit agreement during government formation talks.
The party also reserves the right to choose Treasurer McGrath’s successor, with both Minister of State Jack Chambers and Minister of State Dara Callery both believed to be candidates.
However, this afternoon it was confirmed that Minister Chambers had been approved.
It is the second major vote of confidence he has received from party leader Miquel Martin within days of being appointed deputy leader of Fianna Fáil last week.
Finance Minister Michael McGrath speaks to the media in Dublin, 29 November 2023. Photo: Leah Farrell / © RollingNews.ie
Michael McGrath was appointed Secretary of State for Europe some 18 months after becoming Chancellor of the Exchequer.
He is one of the most senior statesmen Ireland can produce.
Unspoken rules on appointments to committees suggest that if a country sends more senior politicians, it will get more important assignments.
There is therefore hope that McGrath will be able to lead a strong economic policy in the European Commission.
budget
His resignation leaves big shoes to fill just weeks before the Summer Economic Statement, the last crucial period of preparation before the Budget.
His departure for Europe came as a surprise to some who saw him as a possible candidate to become the next leader of Fianna Fáil.
The party is hoping to retain his House of Representatives seat, where his brother Seamus received more first preference votes than any other MP in the country in recent local elections.
