Former Labour Party leader and government minister Brendan Howlin has announced he will not run in the next general election.
Mr Howlin stood down as the party's leader following the 2020 General Election having succeeded Joan Burton in 2016.
He was Minister for Public Expenditure and Reform during the EU IMF bailout when Labour was in a coalition with Fine Gael.
In an effort to address the financial crisis, the then government was required to introduce significant cost cuts.
Mr Howlin as Minister for Public Expenditure and Reform oversaw significant spending reductions which were controversial, particularly within the Labour Party membership.
Speaking to RTÉ's News At One, the Wexford TD, who first ran for election in 1982 before being elected to the Dáil for the first time in 1987, said he plans to "work even harder" for his successor.
He added: "I have given everything I can to parliamentary life and it's time to pass the baton on to somebody else.
"I’m extraordinarily proud of the 40 years I've served in the Oireachtas and extraordinarily humbled by the unbroken support of the good people of Wexford who have kept me there."
He said the financial crash was the most difficult time of his career and the most most challenging period in Irish politics since the establishment of the State.
He said that leaders "went in with our eyes open" but "made mistakes of course".
He added: "We knew there was awfulness ahead but we stood for election on the basis that we wanted to do best for our country and for the people we represented."
Earlier, in a statement announcing his decision not to run for the next general election, Mr Howlin said: "I wish today to inform my constituents in Wexford and the broader Labour family that having served as an elected member of Dáil Éireann continuously since 1987, I will not be contesting the next general election.
"I have been most fortunate to have held many public offices.
"I have been leader and deputy leader of my party. I have served as a Cabinet minister in three governments and witnessed the positive transformation of our country, both economically and culturally.
"I am aware that the business of government and public representation is never done. We still have many major challenges to overcome as a people – providing houses for all, eliminating poverty and creating true equality.
"After the next general election that task will fall to others.
"For my part I will continue to work to the best of my ability for all Wexford people. I will also do all that I can to ensure that our great county continues to be served by a Labour TD in the decades to come."
Current Labour leader Ivana Bacik paid tribute to Mr Howlin, saying he represented the Wexford constituency with "immense energy and tenacity".
She said: "Brendan has been at the heart of the Labour Party through many of the party's defining eras and has contributed massively to improving Irish society.
"Throughout his parliamentary career he has been a campaigner for justice, equality, transparency, and accountability.
"They say that a week is a long time in politics, but after forty years, Brendan has done the State and his beloved Wexford some service."
