Michael W. D'Arcy

Michael William D'Arcy (born 26 February 1970) is an Irish Fine Gael politician who has served as Minister of State at the Department of Finance since June 2017. He wasa Teachta Dála (TD) for the Wexford constituency from 2016 to 2020, and previously between 2007 and 2011. He served as a Senator for the Administrative Panel from 2011 to 2016.[1]

Michael W. D'Arcy
Minister Michael D'Arcy.jpg
Minister of State at the Department of Finance
Assumed office
20 June 2017
TaoiseachLeo Varadkar
Preceded byEoghan Murphy
Teachta Dála
In office
February 2016 – February 2020
In office
May 2007 – February 2011
ConstituencyWexford
Senator
In office
24 April 2011 – 30 February 2016
ConstituencyAdministrative Panel
Personal details
Born
Michael William D'Arcy

(1970-02-26) 26 February 1970 (age 49)
Gorey, County Wexford, Ireland
NationalityIrish
Political partyFine Gael
RelationsMichael D'Arcy (Father)
Children2
Alma materUniversity College Cork
Websitemichaeldarcy.ie

Early and private lifeEdit

D'Arcy was born in Gorey, County Wexford, in 1970. He is the son of Michael D'Arcy, a former TD and Minister of State. In the past D'Arcy has been an active GAA player, winning an All-Ireland junior football title with Wexford in 1992, and five Wexford senior football titles with Killinierin. He also played youth soccer with Wexford. He is the current Chairman of Kilanerin–Ballyfad GAA Club. D'Arcy was educated at Ballythomas National School and Gorey Community School. He is married and has two children.

Political careerEdit

D'Arcy first held political office in December 2003, when he was co-opted as a Wexford County Councillor for the Gorey area, to replace his father Michael who had been forced to stand down when the Local Government Act 2001 abolished the dual mandate. He was re-elected at the 2004 local elections where he topped the poll.[2]

During his time on Wexford County Council, D'Arcy held the position of the council's Vice-Chairman. He was also Chairman of County Wexford Vocational Education Committee from 2004 to 2007 and a member of the board of management of Gorey Community School and Kilmuckridge Vocational College. He is a former director of Wexford County Enterprise Board and Wexford Organisation for Rural Development.

D'Arcy was first elected to Dáil Éireann at the 2007 general election. His father was previously a TD for the same constituency. He served as the party Deputy Spokesperson on Justice, with special responsibility for Equality from 2007 to 2010, and was the Deputy Spokesperson on Communications, Energy and Natural Resources, with special responsibility for Telecommunications from 2010 to 2011. During the 2007 to 2011 term, he served on the Oireachtas Committee on Communications, Energy and Natural Resources.

He lost his seat at the 2011 general election to party colleague Liam Twomey. He was subsequently elected to Seanad Éireann on the Administrative Panel in April 2011,[2] whereupon he became the Fine Gael Seanad Spokesperson on Finance.

He was re-elected to Dáil Éireann for the Wexford constituency at the 2016 general election. In June 2017, he was appointed Minister of State at the Department of Finance and Public Expenditure and Reform, with special responsibility for Financial Services and Insurance.

Oireachtas Banking Inquiry CommitteeEdit

D'Arcy was a member of the Oireachtas Banking Inquiry Committee, which was a joint committee of the Houses of the Oireachtas. It was formally established in November 2014, to inquire into the reasons Ireland experienced a systemic banking crisis. Following completion of its investigation and public hearings, the Committee published its final report on 27 January 2016.[3]

Varadkar leadership campaignEdit

D'Arcy was a supporter of Leo Varadkar in his successful leadership campaign. Varadkar became the youngest ever Taoiseach on 14 June 2017 and Leader of Fine Gael, having been elected to the position by the party's electoral college system.

Kate O'Connell, a Fine Gael TD for Dublin Bay South, notably described Varadkar's supporters during the leadership campaign as being "choir boys".[4]

Minister of StateEdit

In late 2018, D'Arcy and Minister for Finance Paschal Donohoe welcomed Ireland's issuing of its first green bond, making Ireland one of the first countries in the world to do so. D'Arcy stated that: "Irish Sovereign Green Bonds will help to fund the green projects set out in the National Development Plan which contains €23 billion in direct Exchequer funding for eligible green projects over the next ten years."[5]

 
Michael W. D'Arcy pictured (second right) with Taoiseach Leo Varadkar (second left) and others at European Financial Forum 2019

On 26 April 2019, D'Arcy and Paschal Donohoe jointly launched Ireland for Finance, a strategy for the further development of the International Financial Services (IFS) sector in Ireland to 2025. The aim is for Ireland to be a top-tier global location of choice for specialist international financial services.[6]

On 11 June 2019, the Government approved the publication of the Investment Limited Partnership (Amendment) Bill 2019. The Bill, which is on the Government's priority legislation list and is also a key deliverable in the Government's IFS 2025 Strategy. The aim of the Bill is to make Ireland a more attractive domicile for private equity fund.[7]

On 20 June 2019, D'Arcy welcomed the completion of (Report and Final Stages) of the Judicial Council Bill, as part of a series of reforms to reduce increasing insurance premiums in Ireland. The amendments provide for the establishment of a Personal Injuries Guidelines Committee whose sole function will be to develop the relevant personal injury guidelines for appropriate general damages for various types of personal injuries.[8]. D'Arcy has stated that bringing the levels of personal injury damages awarded in Ireland more in line with those awarded in other jurisdictions is the single most essential challenge which must be overcome if there is to be a sustainable reduction in insurance costs.[9]

He lost his seat at the 2020 general election.

See alsoEdit

ReferencesEdit

  1. ^ "Michael W. D'Arcy". Oireachtas Members Database. Retrieved 30 January 2008.
  2. ^ a b "Michael W. D'Arcy". ElectionsIreland.org. Retrieved 30 January 2008.
  3. ^ "Report of the Joint Committee of Inquiry into the Banking Crisis". Oireachtas.
  4. ^ "Outspoken Kate O'Connell under fire over 'choirboys' jibe at Varadkar backers". Irish Independent. 21 May 2017.
  5. ^ "Ministers Donohoe and D'Arcy welcome successful green bond sale". Department of Finance.
  6. ^ "Ministers Donohoe and D'Arcy launch "Ireland for Finance" - A new strategy for the international financial services sector". Department of Finance.
  7. ^ "Government gives green light to publish Investment Limited Partnership (Amendment) Bill 2019 to improve regulatory landscape for private funds". Department of Finance.
  8. ^ "The Cost of Insurance Working Group". Department of Finance.
  9. ^ "Minister D'Arcy welcomes passage of the Judicial Council Bill in the Seanad". Department of Finance.

External linksEdit

Oireachtas
Preceded by
Liam Twomey
(Fine Gael)
Fine Gael Teachta Dála for Wexford
2007–2011
Succeeded by
Liam Twomey
(Fine Gael)
Preceded by
Liam Twomey
(Fine Gael)
Fine Gael Teachta Dála for Wexford
2016–2020
Incumbent