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Michael McGrath, Spokesperson on Finance

Michael McGrath

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Constituency

Cork South Central

Contact

Constituency Office, Main Street, Carrigaline, Co Cork. 
Tel: 021-4376699 (Office 9am-5.30pm)

www.michaelmcgrath.ie

Email

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Personal Details

Michael was born on 23rd August 1976 and grew up in the harbour town of Passage West with his family. He is the second youngest of five children. His mum Marie comes from Togher outside Cork City and his late father Jack was from Bantry in West Cork. Michael attended primary and second level school in Passage West. He went on to secure a Commerce degree from UCC and subsequently qualified as a Chartered Accountant with KPMG in Cork City. He also gained commercial experience in the private sector as a financial controller of a medium sized Cork business. Michael lives in Carrigaline with his wife Sarah and family. Michael has a keen interest in sport including golf, soccer and GAA.

Local News

Appointment of KPMG to review IBRC deals a grave error by Noonan – McGrath

Fianna Fáil Finance spokesperson Michael McGrath has said Michael Noonan's decision to appoint a professional advisory firm involved in the Siteserv deal to now review that very deal, along with other major transactions at IBRC, as very unwise and as damaging to public confidence in the review he has established. Read More | Share

Strong indication of variable interest rate cut by AIB CEO welcome – McGrath

Fianna Fáil Spokesperson on Finance Michael McGrath has welcomed a strong indication from the AIB CEO David Duffy at the Oireachtas Finance Committee this afternoon that the bank could reduce its standard variable mortgage rate 'within the next month or two' if present market trends continue. Read More | Share

Govt infighting on bankruptcy must not delay action on mortgages – McGrath

Government infighting on reducing the period of bankruptcy must not be allowed to delay action on the mortgage crisis, according to Fianna Fáil Spokesperson on Finance Michael McGrath TD. Read More | Share

Noonan must do U-turn and uphold taxpayers’ confidentiality – McGrath

The Fianna Fáil Finance Spokesperson Michael McGrath has called on the Minister for Finance to uphold the confidentiality of individuals’ private taxation affairs by allowing tax appeals to continue to be heard in private. Read More | Share

Permanent TSB must act swiftly in interests of 2,000 customers denied tracker rate – McGrath

Permanent TSB (PTSB) needs to act swiftly and compensate around 2,000 customers who were wrongly denied a tracker mortgage rate, according to Fianna Fáil Finance Spokesperson Michael McGrath. Read More | Share

Irish variable mortgage rates now double average in euro area – McGrath

Official figures released by the Central Bank today reveal the extent to which 300,000 variable rate mortgage customers are being ripped-off compared to customers elsewhere in the euro zone, according to Fianna Fáil Finance Spokesperson Michael McGrath TD. Read More | Share

Just 7 Cork mortgage-to-rent cases completed so far – McGrath

Cork South Central Fianna Fáil TD Michael McGrath has said the mortgage-to-rent scheme is in need of a radical overhaul after receiving figures that show just 7 cases have been completed in Cork since the scheme’s launch in 2012. Read More | Share

18,200 mortgage customers still waiting on legal protection - McGrath

Fianna Fáil has strongly criticised the delay in progressing the Consumer Protection (Regulation of Credit Servicing Firms) Bill which is designed to give protection to families whose mortgages are sold to third parties. Read More | Share

Govt must engage with Cork GAA County Board and deliver on promise of €30m grant – McGrath

Cork South Central Fianna Fáil TD Michael McGrath has called on the government to engage positively with the Cork County GAA Board to ensure the promise of a €30m grant towards the redevelopment of Páirc Uí Chaoimh is honoured. Read More | Share

PTSB attitude an affront to variable rate mortgage customers – McGrath

Fianna Fáil Finance spokesperson Michael McGrath has described comments that PTSB “cannot afford” to cut its 4.5% standard variable mortgage rate as an affront to its 79,000 customers who are paying excessive charges. Read More | Share

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Political Record

Michael is currently the Fianna Fáil Spokesperson on Finance.

At the age of 22, Michael was first elected to local government in 1999 as a member of Passage West Town Council. He was Chairperson of the Town Council in 2000-2001 and subsequently secured a Cork County Council seat in 2004 in the Carrigaline Electoral Area.

In February 2005, Michael resigned from a senior finance post in UCC to concentrate on his role as a public representative.

In 2007, Michael was elected to Dáil Éireann for the constituency of Cork South Central at the first attempt. He has been a member of the Dáil Public Accounts Committee and the Joint Oireachtas Committee on European Affairs. He is currently a member of the Joint Oireachtas Committee on Finance, Public Expenditure and Reform and also a member of the Committee of Inquiry into the Banking Crisis.

Just prior to the 2011 general election, the new Leader of Fianna Fáil Micheál Martin TD appointed Michael as the party's Spokesperson on Financial Sector Reform.

Following the death of Brian Lenihan, RIP, Michael was appointed as the party's Finance Spokesperson in August 2011.