Labour pair in line for key role

Labour leader Eamon Gilmore is expected to select a new chairperson for the Oireachtas finance committee at the weekend.

It is understood that both Cork South West TD Michael McCarthy and the Louth TD Gerald Nash are being considered as candidates for the high-profile position.

Either one of the two backbench TDs will be informed in the coming days that they have been selected to replace Alex White.

Mr White was appointed to the position of minister of state in the Department of Health this week following the resignation of Roisín Shortall.

Mr Gilmore, the Tán-aiste and foreign minister, will select a chairperson from his party who will then be formally nomin-ated by a government TD when the committee formally meets next week.

The finance committee is responsible for parliamentary oversight of banking, banking regulation, and government policy on finance.

It came to prominence in July for its questioning of Ulster Bank’s bosses concerning disruption caused to customer accounts as a result of technology problems.

Mr McCarthy is considered to have more experience for the position, having served two terms in the Seanad before being elected to the Dáil last year.

He is vice-chairman of the committee oninvestigations, oversight, and petitions and is also a member of the Dáil Public Accounts Committee.

However, it may work against Mr McCarthythat Cork already has onejunior minister from the Labour Party, Kathleen Lynch, and one committee chair from the party, Ciarán Lynch.

Mr Nash is also a first-time TD and serves on the environment committee.