Dáil Éireann Debate, Tuesday - 10 February 2026
232. Deputy Emer Currie asked the Tánaiste and Minister for Finance if he has examined the potential of schemes to allow savers to invest more of Ireland's substantial household deposit savings into products which directly fund the delivery of major Irish public infrastructure projects; and if he will make a statement on the matter. [10071/26]
View answerThe National Development Plan (NDP) Review published in July 2025 set out €275.4 billion in public capital investment to 2035. This represents the largest ever capital investment programme in the history of the State. As part of this, the allocation of NDP funding prioritised investment in the critical growth-enabling sectors of housing, energy, water and transport.
I take it that the Deputy is referring to deposits held in commercial banks and their potential use to fund infrastructure across the State.
Any intention to use deposits for infrastructure as proposed by the Deputy would mean the borrowing of such funds by the State from depositors. Such borrowing and whatever rate of interest was applied would ultimately have to be repaid by the State and would in effect form part of the national debt. Furthermore, if the State sought to use such savings, they are likely to be on the same basis as currently applies to State savings products.
The State already borrows from its citizens through Ireland State Savings (ISS). This provides a safe mechanism for citizens to save directly with the Irish Government. Managed by the NTMA, these products are 100% protected by the State and offer the public a variety of Government-backed, secure savings products, including fixed-term bonds, Prize Bonds, and Instalment Savings Schemes.
Most importantly in this context, savings invested in this way are available to the Exchequer to fund Government expenditure including on infrastructure and remain an important and dependable component of the mix of Government borrowing which help fund expenditure by the State. This includes supporting the delivery of housing which, as the Deputy is aware, is funded by the Exchequer and via borrowing, where required.
For context, as published in the NTMA's most recent annual report which relates to 2024, at end-2024, the total amount outstanding in fixed term/fixed rate state savings products and Prize Bonds was €19.6 billion. When Deposit Accounts (POSB) are included, the year-end balance outstanding was €24.3 billion.
Such borrowing forms part of the National Debt and repayment of all Ireland State Savings money is a direct, unconditional obligation of the Irish Government. Finally. It is worth noting that State savings proceeds are fungible and are not sourced or hypothecated for any specific expenditure purpose. Thus, the resources from state savings can be used as required by the State.
