BREAKING |
Move will spark a by-election in Dublin Central Simon Harris will have to pick a new finance minister Departure comes at time when government is already under pressure after presidential election
Fine Gael’s Paschal Donohoe (left) and Simon Harris at a campaign announcement last November. Photo: PA
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Paschal Donohoe is resigning as Minister for Finance to take up a role with the World Bank.
Mr Donohoe will step down from Cabinet and as a TD.
He will also resign as head of the EuroGroup.
Instead he will become the second in command of the World Bank, based in Washington DC.
The move will spark a reshuffle on the Fine Gael side of the Government.
A significant departure from the Government was being speculated about as ministers met for their weekly meeting on Tuesday morning.
The Finance Minister had been continually linked with roles on the global stage.
The last time such an event happened was when Leo Varadkar stood down as Taoiseach 18 months ago.
Fine Gael’s Paschal Donohoe (left) and Simon Harris at a campaign announcement last November. Photo: PA
Today’s News in 90 – Tuesday November 18
The then-Fine Gael leader caught everyone on the hop when he announced his resignation after returning from his St Patrick’s Day trip to the United States.
This month marks the one-year anniversary of the 2024 general election, which returned Fianna Fáil and Fine Gael to office. The Green Party was replaced by a group of Independents supporting the Government.
Aside from Taoiseach Micheál Martin, Mr Donohoe is the most experienced minister in Cabinet. He was first appointed as Minister for Transport in 2014, a role he held for two years.
Before that he was Minister for European Affairs for a year.
He was promoted to Minister for Public Expenditure in 2016 and eventually to Minister for Finance in 2017 and served in that role until 2022. As part of the coalition arrangement he switched back to Public Expenditure but took charge of finance again after last year’s election.
He was first elected as a TD for Dublin Central in February 2011. His resignation will spark the need for a by-election which will be targeted by Sinn Féin. The constituency is the base of party leader Mary Lou McDonald.
Fine Gael will likely run the current Lord Mayor of Dublin Ray McAdam who has worked with Mr Donohoe for many years.
Minister Donohoe is a graduate of the Trinity College Dublin, with a degree in Politics and Economics and he attended St. Declan’s Christian Brothers School.
