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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

Campaign for mortgage fairness will intensify – McGrath

Fianna Fáil Finance spokesperson Michael McGrath has welcomed the publication of the Central Bank report on the influences on standard variable mortgage pricing in Ireland and has called for a stepping up of the campaign for mortgage fairness in Ireland. Read More | Share

Noonan must deliver strong message to banks on variable rates – McGrath

Fianna Fáil Finance Spokesperson Michael McGrath has said Minister Michael Noonan must deliver a strong and forceful message to the banks this week on the exorbitant standard variable mortgages rates they are charging 300,000 mortgage holders in Ireland. Read More | Share

Noonan must publish Central Bank ‘research’ on variable rates immediately – McGrath

Fianna Fáil Finance Spokesperson Michael McGrath has called on Minister Michael Noonan to publish the Central Bank’s research into why standard variable mortgages rates are so high in Ireland. Read More | Share

Government mortgage package ‘timid and lacking ambition’ - McGrath

Fianna Fáil Finance Spokesperson Michael McGrath has described the measures announced by government to deal with mortgage arrears as timid and lacking ambition following four years of indifference on the subject. Read More | Share

Central Bank puts interests of banks ahead of variable rate mortgage holders – McGrath

Fianna Fáil Finance Spokesperson Michael McGrath has said he is dismayed at reports that the Central Bank is siding with the banks and not 300,000 mortgage holders paying variable mortgage rates which are double the euro zone average. Read More | Share

Govt announcement on mortgages must decisively end bank veto – McGrath

Fianna Fáil Finance Spokesperson Michael McGrath has welcomed an indication from Minister Michael Noonan in the Dáil that the government is about to finally move to dilute or end the bank veto. Read More | Share

McGrath welcomes long delayed Living City Initiative

Fianna Fáil Finance Spokesperson Michael McGrath has welcomed the commencement of the long delayed Living City Initiative which will support the regeneration of parts of Cork City as well as other urban centres across the country. The designated areas have been selected following consultations with the relevant local authorities and other Government agencies. Read More | Share

AIB/EBS rate cut a welcome start that needs to be built on – McGrath

Fianna Fáil Spokesperson on Finance Michael McGrath has described the reduction in variable interest rates announced today by AIB/EBS as a welcome start that needs to be built on to secure substantial variable rate reductions across the Irish banking system. Read More | Share

Govt should back up ‘Spring Statement’ by reinstating Respite Care Grant to 77,000 carers

The government should back up the rhetoric from yesterday’s ‘Spring Statement’ by immediately restoring the Respite Care Grant to €1,700 in time for the annual payment due in the first week of June to 77,000 carers around the country, according to Fianna Fáil Finance Spokesperson Michael McGrath. Read More | Share

Dáil Speech by Fianna Fáil Finance Spokesperson Michael McGrath

This spring statement is a classic example of a Government over-promising and under-delivering. Built up as some kind of mini-budget, it has ended up as just another PR exercise from a Government that is quickly running out of road. At the end of all this, people who have been hearing about the spring statement for months will be left scratching their heads wondering what it was all about. I cannot find a single element in today's statement that will bring any short-term benefits to families. 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.