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 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

Berehaven credit union liquidation highlights challenged state of sector – FF

Fianna Fáil Finance spokesperson Michael McGrath has stated that the sudden decision today to put Berehaven credit union in Cork in to liquidation will come as a shock to savers locally and throughout the country and is also a sharp reminder of the challenges facing the sector generally. Read More | Share

Mortgage to rent scheme in need of complete overhaul – FF

Fianna Fáil Finance spokesperson Michael McGrath has described the Government’s “Mortgage to Rent” scheme for distressed borrowers as an abject failure following confirmation that just 42 cases have been fully concluded under the scheme since its inception in July 2012. Read More | Share

57% of sub-prime mortgage holders deep in arrears and still no Govt targets for resolution – McGrath

The appalling state of the sub-prime mortgage book has been revealed by a series of figures released to Fianna Fáil Spokesperson on Finance Michael McGrath, along with confirmation that the government has still not set targets for the resolution of sub-prime arrears cases. Read More | Share

Central Bank fails to protect mortgage holders- McGrath

Heightened risk of wave of repossessions if Central Bank does not reign in banks Read More | Share

NAMA must be allowed freedom to continue to deliver its mandate – FF

Fianna Fáil Finance spokesperson has welcomed today’s review of NAMA by the Department of Finance which indicates that the Agency is ahead of schedule in meeting its debt repayment targets and is now planning to deliver significant office, retail and residential space in Dublin, including the Docklands area as well as housing units where strong demand exists. Read More | Share

Poor take-up of insolvency provisions due to fatally flawed legislation – FF

Fianna Fáil Finance Spokesperson Michael McGrath has described the slow take up of personal insolvency provisions as disappointing but not surprising. Read More | Share

FF Opposes Pre-Emptive Irish Move on Corporation Tax

Fianna Fáil Finance Spokesperson Michael McGrath TD has warned Government that while Fianna Fáil supports international reform to make the global corporation tax regime fairer and more transparent, the party will strongly oppose any plan for Ireland to act unilaterally or in advance of international agreement. 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.