Minister for Finance
Incumbent
Michael McGrath
since 17 December 2022
Department of Finance
Member of
Reports toTaoiseach
SeatGovernment Buildings,
Merrion Street, Dublin, Ireland
AppointerPresident of Ireland on the nomination of the Taoiseach
Inaugural holderEoin MacNeill
Formation22 January 1919
WebsiteDepartment of Finance

The Minister for Finance (Irish: An tAire Airgeadais) is a senior minister in the Government of Ireland. The Minister for Finance leads the Department of Finance and is responsible for all financial and monetary matters of the state; and is considered the second most important member of the Government of Ireland, after the Taoiseach.

The current office holder is Michael McGrath, TD.[1]

Overview

Government Buildings, Dublin, is the location of the Department of Finance

The Minister for Finance holds the second most important ministerial position in the Irish Cabinet after that of the Taoiseach. The minister is in charge of the Department of Finance responsible for all financial matters in Ireland. It is one of three positions in the government which the Constitution requires to be held by a member of Dáil Éireann, the other two being Taoiseach and Tánaiste. Many Ministers who have held the Finance portfolio have gone on to become Taoiseach, including Jack Lynch, Charles Haughey, Albert Reynolds, John Bruton, Bertie Ahern and Brian Cowen.

The department and minister are occasionally called the Irish Exchequer (or simply the Exchequer), a term previously used under the Chancellor of the Exchequer of Ireland.

Budget

One of the most important aspects of the Minister's work is the creation of the annual Budget which is announced to the Dáil in a speech, which must be delivered before 15 October due to the Two-Pack agreement. In the budget the Minister details the Government's spending programme for the coming year. The budget consists of:

  • a Financial Statement to the Dáil,
  • Budgetary Measures (a list of budgetary changes detailing the cost/yield of same),
  • Budget statistics, and
  • financial resolutions.

Minister for Finance since 1919

  Denotes acting Minister for Finance
Name Term of office Party Government(s)[lower-alpha 1]
Eoin MacNeill 22 January 1919 1 April 1919 Sinn Féin 1st DM
Michael Collins 2 April 1919 22 August 1922 Sinn Féin 2nd DM • 3rd DM • 4th DM • 1st PG
W. T. Cosgrave (acting) 17 July 1922 21 September 1923 Pro-Treaty Sinn Féin 1st PG • 2nd PG • 5th DM • 1st EC
Ernest Blythe 21 September 1923 9 March 1932 Cumann na nGaedheal 2nd EC • 3rd EC • 4th EC • 5th EC
Seán MacEntee 9 March 1932 16 September 1939 Fianna Fáil 6th EC • 7th EC • 8th EC • 1st • 2nd
Seán T. O'Kelly 16 September 1939 14 June 1945 Fianna Fáil 2nd • 3rd • 4th
Frank Aiken 19 June 1945 18 February 1948 Fianna Fáil 4th
Patrick McGilligan 18 February 1948 13 June 1951 Fine Gael 5th
Seán MacEntee 13 June 1951 2 June 1954 Fianna Fáil 6th
Gerard Sweetman 2 June 1954 20 March 1957 Fine Gael 7th
James Ryan 20 March 1957 21 April 1965 Fianna Fáil 8th • 9th • 10th
Jack Lynch 21 April 1965 10 November 1966 Fianna Fáil 11th
Charles Haughey 10 November 1966 7 May 1970 Fianna Fáil 12th • 13th
George Colley 9 May 1970 14 March 1973 Fianna Fáil 13th
Richie Ryan[lower-alpha 2] 14 March 1973 5 July 1977 Fine Gael 14th
George Colley[lower-alpha 3] 5 July 1977 11 December 1979 Fianna Fáil 15th
Michael O'Kennedy[lower-alpha 3] 12 December 1979 16 December 1980 Fianna Fáil 16th
Gene Fitzgerald[lower-alpha 3] 16 December 1980 30 June 1981 Fianna Fáil 16th
John Bruton 30 June 1981 9 March 1982 Fine Gael 17th
Ray MacSharry 9 March 1982 14 December 1982 Fianna Fáil 18th
Alan Dukes 14 December 1982 14 February 1986 Fine Gael 19th
John Bruton[lower-alpha 4] 14 February 1986 10 March 1987 Fine Gael 19th
Ray MacSharry[lower-alpha 5] 10 March 1987 24 November 1988 Fianna Fáil 20th
Albert Reynolds 24 November 1988 7 November 1991 Fianna Fáil 20th • 21st
Charles Haughey (acting) 7 November 1991 14 November 1991 Fianna Fáil 21st
Bertie Ahern 14 November 1991 15 December 1994 Fianna Fáil 21st • 22nd • 23rd
Ruairi Quinn 15 December 1994 26 June 1997 Labour 24th
Charlie McCreevy 26 June 1997 29 September 2004 Fianna Fáil 25th • 26th
Brian Cowen 29 September 2004 7 May 2008 Fianna Fáil 26th • 27th
Brian Lenihan 7 May 2008 9 March 2011 Fianna Fáil 28th
Michael Noonan 9 March 2011 14 June 2017 Fine Gael 29th • 30th
Paschal Donohoe[lower-alpha 6] 14 June 2017 17 December 2022 Fine Gael 31st • 32nd
Michael McGrath[lower-alpha 7] 17 December 2022 Incumbent Fianna Fáil 33rd
  1. ↑ Before 1937: DM – Dáil Ministry; PG – Provisional Government; EC – Executive Council.
  2. ↑ Also Minister for the Public Service from 1 November 1973, on the creation of the new department.
  3. 1 2 3 Also Minister for the Public Service.
  4. ↑ Also Minister for the Public Service from 20 January to 20 March 1987, after the resignation of the Labour Party ministers from government.
  5. ↑ Also Minister for the Public Service until 20 March 1987, when the functions of the department were transferred to the Department of Finance.
  6. ↑ Minister for Public Expenditure and Reform from 6 May 2016 to 27 June 2020.
  7. ↑ Minister for Public Expenditure and Reform from 27 June 2020 to 17 December 2022.

See also

References

  1. ↑ "List of Ministers and Ministers of State", Government of Ireland, retrieved 17 December 2022
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