Liam Cosgrave resigns from Fine Gael party

Former TD and senator Mr Liam Cosgrave has officially resigned from the Fine Gael party.

In a one-line statement released today the Fine Gael leader, Mr Edna Kenny, said he had been informed by Mr Cosgrave of his resignation and that it was to take place with "immediate effect".

Enda Kenny, Leader of Fine Gael has been informed by Councillor Liam Cosgrave that he has resigned from the Party with immediate effect. Fine Gael press release in its entirety

Mr Cosgrave is at the centre of a number of corruption allegations being investigated by the Flood tribunal.

Fine Gael's national executive were understood to be considering disciplinary proceedings against the former senator over his evidence to the tribunal.

The party said that Mr Cosgrave's evidence raised concern after it emerged that he had misled an internal Fine Gael inquiry into political donations.

The tribunal has discovered that Mr Cosgrave received more than £7,000 in election payments and other payments from former lobbyist Mr Frank Dunlop.

However, Mr Cosgrave denies he received money from Mr Dunlop in return for his support in Dublin County Council votes to rezone lands for development.