The Minister for Finance Michael Noonan has become the first TD of what could be many to follow the former Taoiseach Enda Kenny out of the Dáil door.
Mr Noonan who was rumoured to be in contention to replace Mr Kenny has said he will step down from his position once a successor to Mr Kenny is found.
Speaking earlier today Mr Noonan said: “I have been honoured to serve as Minister for Finance since March 2011 and have introduced six annual budgets and one supplementary budget.”
“I believe now is a good time for a new Finance Minister to take up office. Ireland is the fastest growing economy in Europe, the budget is almost balanced and we are on the cusp of full employment.”
The long serving TD also added that he will not contest the next general election.