Tánaiste and Fine Gael leader Simon Harris will be the new Minister for Finance.

He is poised to replace Paschal Donohoe, who will next week take up a position at the World Bank, ending almost a decade in one or another of the two key economic portfolios in cabinet - finance or public expenditure and reform.

It means that Simon Harris, who made a strong pitch for the farming vote in last year's general election, with significant funding promises for farming families, now will have control of the Government purse strings.

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Only last Saturday, speaking at the Fine Gael party's agriculture conference in Newbridge, Co Kildare, the Tánaiste said the following in relation to his and Fine Gale's manifesto pledges: "You try to niche your Programme for Government together based on your manifesto commitments. We've delivered budget one of five, we'll have four more budgets to deliver."

The cabinet reshuffle will be completed by Helen McEntee succeeding Harris as Minister for Foreign Affairs, Trade and Defence, with chief whip Hildegarde Naughton replacing McEntee in the education portfolio. There will be no change among the Fianna Fáil government ministers.