He joined the Fine Gael front bench in 1988 and was appointed Minister for Agriculture, Food and Forestry when the party came to power in 1994.
Farmers saw the prices they received for their produce plummet; he stopped live animal exports in response to controversy over cruelty in shipping, and took on the Irish Veterinary Union over the tuberculosis eradication scheme.
When John Bruton resigned as leader of Fine Gael in January 2001, there was much speculation that Yates would be a contender for the vacant position.
Instead, he announced to his colleagues that he was leaving full-time politics to concentrate on his family and business interests and that he would not be contesting the next general election.
[7] He headed a group of bookmakers in a court case against the British Horseracing Board (BHB) over fees for licences to access a racing information database in 2005.
[10] In September 2013, it was announced that Yates was discharged from bankruptcy, having fulfilled the requirements set down by Swansea County Court, where he made his application for personal insolvency on 24 August 2012.