Dáil Éireann Debate, Monday - 7 September 2026
787. Deputy Barry Ward asked the Tánaiste and Minister for Finance if his attention has been drawn to the proposal by the Finnish Government in relation to providing for a seed investment account for all newborns in Finland (details supplied); if a similar scheme has been considered in Ireland; and if he will make a statement on the matter. [62392/26]
View answer788. Deputy Barry Ward asked the Tánaiste and Minister for Finance if his attention has been drawn to the proposal by the Portuguese Government in relation to providing for a seed investment account for all newborns in Portugal (details supplied); if a similar scheme has been considered in Ireland; and if he will make a statement on the matter. [62393/26]
View answerI propose to take Questions Nos. 787 and 788 together.
One of the aims of the Savings and Investments Union is to create better financial opportunities across the EU, providing people with more opportunities to invest and provide for their current and future prosperity. In September 2025, the European Commission adopted a Recommendation on increasing the availability of Savings and Investment Accounts (SIAs) in Member States and this included an outline of their key characteristics.
Ireland still does not have a sufficiently diversified savings and investment culture. Too much of people’s hard-earned savings remains in low-yield deposits, where inflation can erode value over time. Deposit accounts are right for many people and for many needs. But they should not be the only practical option. Investment in capital markets can offer households another path to long-term financial wellbeing, while also supporting growth and competitiveness in the wider economy.
At the 2026 Savings and Investment Forum, I announced the Government’s intention to introduce the legislative framework for an investment account in 2026. We want to make investing simpler, clearer, and more accessible for ordinary people, and help their hard-earned money work harder for them over time.
On 31 August 2026 I published a Roadmap for the Taxation of Retail Investment which set out a pathway to simplify and adapt Ireland’s tax framework for retail investment. The roadmap and also set out the key parameters of the new investment account, which will provide individuals who choose to invest with a simpler and more accessible way to do so.
The aim is to legislate for the framework in 2026 and to allow accounts to be offered from 2027. It will be a key part of a broader rethink of the taxation of retail investment. The Government’s view that the account should be simple, accessible, tax efficient, easy to administer, transparent on fees and portable across borders where possible.
In terms of designing the model that best fits the Irish economy and the needs of Irish households, the views of relevant experts are being considered as well as learning from best international practices.
There has been some interest in the concept of an investment account specifically for children and this concept will be given consideration as part of future Finance Bills. In the initial roll out of the account only Irish resident individuals who are aged 18 and over will be eligible to open an investment account. This will give providers an opportunity to become more familiar with the operation of the accounts and to develop the necessary IT systems before expanding the availability of the account.
