‘It’s a big role and I’m looking forward to it’
NORTH Wexford TD Michael D’Arcy has been appointed to the influential role of Minister of State at the Department of Finance and the Department of Public Expenditure and Reform with special responsibility for Financial Services and Insurance.
The 47-year-old is the first Gorey-based Junior Minister in 35 years since his father Michael Snr. was Minster of State for Fisheries. Deputy D’Arcy is said to have worked behind the scenes on newly-elected Taoiseach Leo Varadkar’s leadership campaign, and has been rewarded for his work.
‘I’m very pleased,’ said Michael. ‘It’s a big role, and I’m looking forward to it.’
He is particularly pleased to be working in Finance. ‘After spending two years on the banking enquiry and six years on the finance committee, it was a space that I’m reasonably well versed in,’ he said. ‘My areas of responsibility are financial services and insurance.’
He explained that the Irish government is making a pitch to attract the European Banking Authority over to Dublin from London after Brexit, and he will be part of these efforts. He also expects he will be on the government’s Brexit committee though this is still to be confirmed.
He said that the financial services sector is a hugely important one, with 40,000 direct jobs in the area, and 90,000 jobs in the overall sector. ‘Our role is to minimise the impact of Brexit,’ he said.
Michael added that he and the newly appointed Minister for Finance Paschal Donohoe are good friends. ‘We haven’t yet concluded details of our plan going forward but we have had conversations,’ he said, adding that he also works well with Taoiseach Leo Varadkar.
‘I think he’ll bring fresh thinking to the role of Taoiseach, and that it will be a period of regeneration,’ said Michael. He paid tribute to former Taoiseach Enda Kenny, saying he ‘did a good job overall for the country.’ ‘He left the country in a far better state than he found it,’ he said.
Though he will be busier than ever in Dublin, Michael said he still works to serve his constituents. ‘I’ll be meeting the Governor of the Central Bank this week and the CEO of the IDA next week, trying to ensure that Wexford gets its fair share of jobs,’ he stated. ‘ I still work as hard for the people of Wexford. I never forget the people who elected me, and I ensure I provide the best service for the people of Co Wexford.’
He said it’s difficult to gauge if this government will serve its full term. ‘ The agreement with Fianna Fáil was for three budgets and we’ve had two. Who knows what happens in the future, but that’s what’s in place for now.’
He thanked the ‘ enormous number of people’ who worked with him over the years. ‘Without their support, and the support of the Fine Gael organisation, this job that Leo Varadkar has offered me wouldn’t be available,’ he stated. ‘I’m grateful to all those people.’
Michael D’Arcy was first elected to Dáil Éireann in May 2007, and from October that year, he was appointed deputy spokesperson on Justice, with special responsibility for Equality. He also served on the Oireachtas Communications, Energy and Natural Resources Committee.
In the 2011 election, despite increasing his first preferences, he was unable to retain the seat. He ran for Seanad Éireann and secured a seat on the Administrative Panel. He became the Government Spokesperson on Finance in the Seanad.
He was re-elected to the Dáil in the 2016 general election.
He first held political office in December 2003 when he was co-opted on to Wexford County Council to replace his father Michael Snr. when the dual mandate was introduced. He topped the poll in the 2004 local elections. He then ran for the general election in 2007.
Michael is married with two children and runs a dairy farm at Annagh. He was educated at Ballythomas NS, Gorey CBS, and the University of London. He won an All-Ireland junior football title with Wexford in 1992, and five Wexford senior football titles with Kilanerin and played youth soccer with Wexford.