Dáil Éireann Debate, Thursday - 11 July 2024
167. Deputy Seán Canney asked the Minister for Finance if he will consider the introduction of individual saving accounts which will give savers the benefit of tax-free savings, flexible contributions and diverse investment options and afford proper retirement planning; and if he will make a statement on the matter. [30760/24]
View answerI note the Deputy's query in relation to individual savings accounts and investments and whether any changes are being considered in this regard.
Last year, on 6 April 2023, former Minister for Finance, Mr. Michael McGrath T.D. published the Terms of Reference for a review of Ireland’s funds sector - ‘Funds Sector 2030: A Framework for Open, Resilient & Developing Markets’. The review is wide ranging and looking at a range of issues relevant to the funds sector, taking into account the recommendations in this area of the Commission on Taxation and Welfare 2022 report, Foundations for the Future.
As per the terms of reference, the Review team will report to me this Summer and I look forward to considering its findings at that point. On that basis it would not be appropriate to presuppose any outcomes of the review at this time
As with all areas of tax policy, the taxation of savings and investments will be kept under review throughout the annual budgetary and Finance Bill process.
