LAST UPDATE | 13 Sep 2022

TAOISEACH MICHEÁL MARTIN has said it is his expectation that Michael McGrath will take over the role of finance minister in December’s Cabinet reshuffle. 

A rift has been formed between Fianna Fáil and Fine Gael over the finance ministry in recent days after Tánaiste Leo Varadkar publicly raised concerns about Ireland losing the chair position of the influential Eurogroup of eurozone finance ministers, which Donohoe currently holds, if McGrath becomes minister.

The role of Taoiseach and Tánaiste will rotate on 15 December, and although not part of the published rotation deal, it is understood that Fianna Fáil expected the finance ministry to move between the parties as well.

This would mean that McGrath and Paschal Donohoe would rotate their roles in Public Expenditure and Finance, respectively.

When asked about the matter this morning, Martin said on RTÉ’s Morning Ireland that the “fundamental principle of the government” laid out at the formation of the Government two years ago was “parity of esteem between parties”.

In terms of the different portfolios, Martin said that if one party held the role of Taoiseach, it was expected the other party would hold the finance ministry. 

“That was clear and that was understood at the time,” he said.

“The bottom line is the cohesion of the government really does depend on parity of esteem between all of the parties and respect across the board,” added the Taoiseach.

However, speaking to reporters at UCD today, Varadkar said that the details of this handover  hadn’t been decided yet.

“To be very frank, we’ve had no discussions among the three coalition leaders about the shape of the new government. I imagine we’ll get around to that probably sometime around November. Our focus at the moment is on the budget, getting that right,” he said.

When pressed further on the matter Varadkar said: 

“Our focus now is on the things that matter to people most. And I guarantee it’s not which ministers are in which position, it’s what are we going to do about the cost of living crisis? How are we going to help business to save jobs?”

Martin said Fianna Fáil had been “very clear” on the finance minister issue stating that it was an “unfair representation” to say that if Donohoe vacates the finance ministry that Ireland would automatically lose the chairmanship of the Eurogroup.

The Taoiseach said he had “great time” for Donohoe, stating that he has been an excellent finance minister. 

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McGrath told reporters in Mullingar today that all matters to do with Cabinet reshuffle will be dealt with by the party leaders in December.

When asked if he does become finance minister would be take up the role in the Eurogroup, he said: 

“It is always the case that the finance minister of the country attends the Eurogroup and we would expect that to continue,” he said.

Michael McGrath says it is the finance minister of the country that attends Eurogroup meetings. pic.twitter.com/2WMlRBU7Ug

— Christina Finn (@christinafinn8) September 13, 2022

The Government is focusing on the budget and the cost-of-living package first, said the Taoiseach, adding that the public have little time or concern about who gets what job come December.