Politics

Michael McGrath ‘not motivated by money’ in decision to become Irish EU commissioner

Outgoing Minister for Finance stands to earn package of more than €440,000 a year on taking up role later this year

Fianna Fáil’s Michael McGrath was on Tuesday nominated to become Ireland's next European commissioner. Photograph: Gareth Chaney/PA Wire

Vivienne Clarke
Wed Jun 26 2024 - 09:33

Fianna Fáil’s Michael McGrath has said money is not a factor in his decision to leave his role as Minister for Finance to become Ireland’s next European Commissioner.

The Cork South Central TD, whose nomination for the commission was approved by the Cabinet yesterday, will receive annual remuneration of up to €443,000 when he moves to Brussels, double his pay as a Minister, as he stands to benefit from large tax-free family allowances for his seven children.

Asked about the pay package during an interview on Newstalk on Wednesday, Mr McGrath said the salary is standard for all commissioners, is paid out of the EU budget and that he does not have a say on the matter.

“I was never motivated by money in any decision that I made. In my life, I have always been motivated by a desire to give public service,” he said.

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Mr McGrath said he has been an elected representative since becoming a town councillor aged 22 in 1999 and has enjoyed “every moment” of that time. He noted he would remain a TD for the next four months, even though party colleague Jack Chambers is set to succeed him as Minister for Finance.

[ Tax-free allowances for Michael McGrath’s seven children will bring EU pay package to €443,000 a year ]

An attraction to the EU job, he added, was having a chance to shape policy on an international stage across areas ranging from trade to climate change while having a direct impact on “pretty much every facet of Irish life and of the lives of citizens from across the European Union”.

Mr McGrath could stand to earn up to €488,000 if he is appointed to one of seven commission vice-presidencies. Commentators suspect a minister from a brief as senior as Mr McGrath’s was nominated with a view to securing one of the major economic briefs for Ireland.

He said he believed his skill set in the financial and economic areas could see him “hit the ground running” but that it is a “competitive” field and many member states are vying for different positions.

Ursula von der Leyen is expected to be proposed later this week for a second term as European Commission president, but she has faced criticism about some decisions taken during her first stint. Ahead of the European elections, several Fianna Fáil candidates said they did not intend to back her.

Mr McGrath said Ms von der Leyen would face a democratic test in the European Parliament and noted that MEPs had approved her last time around by a “very tight” margin.

He said although she has not got everything right, including comments made during a trip to Tel Aviv shortly after the Hamas attack on October 7th, “she has been a very good friend to Ireland” particularly during Brexit-related negotiations.

Asked if he would encourage Fianna Fáil MEPs to support Ms von der Leyen’s candidacy, he said he did not think “public pleadings or declarations really are the way to go”.

“We will continue to engage with them, but we respect their mandates. They have been elected by the people in the last few weeks. And I think that has to be acknowledged and recognised and respected. And it will be, but we will have respectful discussions over the days ahead about what is in Ireland’s national interest.”

Vivienne Clarke

Vivienne Clarke is a reporter

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