Jack Chambers has been named as the new Minister for Finance, replacing Michael McGrath who has been confirmed as Ireland's nominee for the European Commission.
The decisions were confirmed as the three Government Coalition leaders met on Monday evening.
They were confirmed at a Cabinet meeting on Tuesday morning before the announcements.
Chambers, 33, was named as Fianna Fáil's new deputy leader last week. The Dublin West TD has previously served as a Minister of State since July 2020.
Speaking before Mr McGrath was confirmed as Ireland's next European Commissioner, Taoiseach Simon Harris said: "I’m conscious that when somebody becomes nominated as a European Commissioner, there’s a lot of work to go through in terms of parliament hearings and the like.
“In my view, it would be prudent to fill that vacancy immediately, and I expect any vacancy that may or may not arise today at Cabinet to be filled today.”
Mr McGrath will succeed Fine Gael-nominated commissioner Mairead McGuinness.
Mr Chambers will have to get to work immediately on October's Budget.
It will come before the general election, which sources have indicated may be called for November 15th.
Mr Harris and Tánaiste Micheál Martin have insisted the Government will serve its full term until March.
However, this seems unlikely due to the Government's decent showing in the recent local and European elections, and the fact that five by-elections would have to be held before a March general election.
