Fianna Fáil’s Michael McGrath, who recently expressed his intention to step down as the Finance Minister of Ireland and take on the role of Europe’s next Commissioner, has declared that financial gains have not been the driving force behind this decision. Based on yesterday’s confirmation by the Cabinet of his nomination for the commission, the Cork South Central TD’s annual salary could reach a maximum of €443,000, inclusive of considerable non-taxable allowances for his seven kids. This would mean his pay would be twice that of his ministerial income when he relocates to Brussels.
When questioned about his pay scale during a Newstalk interview on Wednesday, McGrath stated all Commissioners receive the same standard salary, funded by the EU budget, over which he has no control. “My entire life, serving the public has always been my only driving force, rather than financial gains,” he affirmed.
McGrath has been a public official since he was a town councillor at 22 in 1999, and he cherishes every moment of his journey. For the oncoming four months, he will retain his TD position, despite the fact that Jack Chambers, his party colleague, is poised to replace him as Finance Minister.
McGrath also mentioned that one of the appealing factors in his interest in the EU role was the opportunity to shape international policy across a range of sectors, from trade to climate change. This role would confer him a consequential role in impact all aspects of Irish life.
He could earn as much as €488,000 if appointed to one of the vice-presidencies of the seven commissions. Pundits presume that a minister of McGrath’s stature was nominated for securing major economic portfolios for Ireland.
With respect to his future role, McGrath believes his financial and economic skills will allow him to make an immediate impact. But he acknowledges the intense competition as many EU member states are competing for a variety of posts.
In a forthcoming conference, Ursula von der Leyen is likely to be nominated for a second term as European Commission President despite criticism for a few of decisions during her previous term. It’s worth mentioning that several Fianna Fáil nominees have already announced their non-support for Leyen in the upcoming European elections.
“Mr. McGrath expressed that Ms. von der Leyen is soon to face a democratic examination within the European Parliament, highlighting the fact that during the last vote, MEPs approved her by a decidedly narrow margin. Despite not being perfect, including making questionable comments during a visit to Tel Aviv in the aftermath of the October 7th Hamas attack, Mr. McGrath stated, “she’s been a true ally of Ireland”, especially during discussions related to Brexit.
When questioned if he would advocate for Fianna Fáil MEPs to back Ms. von der Leyen, he made clear his belief that “it’s not appropriate to make public appeals or proclamations”. He added, “Our commitment to engage with them stands, however their elected positions garner our respect. These individuals have been chosen by the populace very recently. That fact alone demands acknowledgment, recognition, and respect. We will partake in considerate dialogues over the ensuing days regarding what serves Ireland’s national interest best.”