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Michael McGrath, Spokesperson on Finance

Michael McGrath

Working for a better future

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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

McGrath calls for urgent review of regulation of insurance sector

Fianna Fáil Finance Spokesperson Michael McGrath has called for the Central Bank to undertake an urgent review of the Irish insurance sector following the collapse of Setanta Insurance leaving 75,000 people without cover. Read More | Share

Fewer Cork households saving regularly – FF

Fianna Fail TD for Cork South Central and spokesperson on Finance Michael McGrath says the Government’s inaction on policies to help the squeezed middle is impacting on people’s ability to save. A recent survey carried out by the ESRI for Nationwide UK (Ireland) has found a sharp increase in the number of people who can no longer afford to put money by because they don’t have any spare cash. Read More | Share

McGrath expresses concern at Noonan’s suggestion that NAMA be wound up by next year

Rapid fire sale of NAMA assets must be based on an economic rather than a political logic Read More | Share

Stability Programme Update highlights contradictory messages from Govt on economy - McGrath

Fianna Fáil Finance Spokesperson Michael McGrath has said there now appears to be two totally contradictory messages coming from Government in light of the publication today of the Stability Programme Update (SPU). Read More | Share

Blatant discrimination against borrowers must be tackled at Committee hearings on mortgage arrears

The Oireachtas Finance Committee hearings this week with the chief executives of the main banks will be an opportunity to examine the failings in tackling the mortgage arrears crisis facing thousands of borrowers across the country, according to Fianna Fáil Spokesperson on Finance Michael McGrath. Read More | Share

McGrath demands action on NDLS delays

Cork South Central TD Michael McGrath says it’s unacceptable that people in Cork are facing lengthy delays at the National Driver Licence Service office in the city centre. There have been reports of people waiting over four hours to be seen, only to be told to come back another day to have their applications processed. Read More | Share

Middle income families to be hit for over €700m in tax hikes – McGrath

Fianna Fáil Finance spokesperson Michael McGrath has stated that Government plans in relation to tax relief for medical insurance and mortgage interest will take €720m annually from the pockets of hard working families in the years ahead. Read More | Share

IBRC mortgage holders left isolated and vulnerable after sale to US hedge funds – McGrath

Thousands of ordinary mortgage holders around the country have been left isolated and vulnerable following the sale of over half the IBRC mortgage book to two US hedge funds, according to Fianna Fáil Finance Spokesperson Michael McGrath. Read More | Share

Tackling SME debt vital to protecting jobs in the economy – McGrath

Fianna Fáil Spokesperson on Finance Michael McGrath has called for a more comprehensive approach to dealing with SME debt following confirmation that AIB and Bank of Ireland are meeting the initial targets set for them for restructuring distressed SME loans. Read More | Share

McGrath welcomes UK Treasury’s support for future of Ulster Bank in Ireland

Fianna Fáil Spokesperson on Finance Michael McGrath TD has welcomed correspondence from the UK Treasury confirming the importance of Ulster Bank being able to play its role supporting the Irish economy. 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.

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.