www.fiannafail.ie

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

Central Bank needs to instigate inquiry into sale of Whole of Life Insurance policies – McGrath

The Central Bank needs to instigate an investigation into the sale of Whole of Life insurance policies amid growing concern that a large number of consumers may have been mis-sold the policies, according to Fianna Fáil Spokesperson Finance Michael McGrath. Read More | Share

Govt must move early in new Dáil term to protect up to 10,000 vulnerable mortgage holders – McGrath

The government must move early in the new Dáil session to protect up to 10,000 vulnerable mortgage holders whose mortgages have been sold off to unregulated third parties, according to Fianna Fáil Spokesperson on Finance Michael McGrath. Read More | Share

Ombudsman must review sale of whole of life assurance policies – FF

Fianna Fáil Finance spokesperson Michael McGrath has expressed concern over possible mis-selling of whole of life assurance. These are policies where customers purchase cover that provides a lump sum in the event of their death as well as purchasing units in an investment fund. The policies typically have a premium review clause after an initial 10 year period and then each subsequent 5 years up to age 70 and annually thereafter. Read More | Share

Loss of 160 jobs at MBNA call centre a devastating blow – FF

Fianna Fáil Spokesperson on Finance Michael McGrath has expressed his deep concern at the announcement that MBNA is to close its call centre in Carrick on Shannon with the loss of 160 jobs. Read More | Share

NAMA must also focus on Ireland’s long term strategic needs – FF

Fianna Fáil Finance spokesperson Michael McGrath has called for NAMA to take greater consideration of Ireland’s long term economic and social needs as it works through the remaining loans on its books. Read More | Share

Early repayment of IMF loans opens up large potential saving for Ireland – McGrath

The IMF's confirmation that Ireland may repay its loans to the Fund early without any penalty whatsoever opens up the possibility of a very significant annual saving for the State and every effort must be made by the government now to achieve this, according to Fianna Fáil Spokesperson on Finance Michael McGrath. Read More | Share

Proposed water charges will fleece families with grown up children living at home – McGrath

Firm evidence is needed to back up the 45% reduction in the water allowance for children and changes are needed to take account of the burden of water charges for young adults, according to Fianna Fáil Spokesperson on Finance Michael McGrath TD. Read More | Share

Central Bank needs to protect customers and rigorously assess banks’ IT systems – McGrath

The Central Bank needs to rigorously assess the IT systems of banks operating in Ireland following a series of IT issues which have had a major impact on customers, according to Fianna Fáil spokesperson on Finance Michael McGrath. Read More | Share

Govt Needs to Push Forward on National Pension Reserve Fund Investment - FF

35% of portfolio is sitting in cash Read More | Share

Government must defend Ireland’s reputation on corporation tax - FF

Obama comments part of clear pattern of misrepresentation in US circles 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.