Dáil Éireann Debate, Wednesday - 18 February 2026
45. Deputy Barry Ward asked the Tánaiste and Minister for Finance the position regarding any stakeholder engagement he proposes as part of the review of the Government savings and investment strategy (details supplied); and if he will make a statement on the matter. [13139/26]
Amharc ar fhreagraThe EU Savings and Investments Union aims to create better financial opportunities across the EU, providing people with more opportunities to invest and provide for their current and future prosperity. The project also aims to deepen the pools of capital available for investment in businesses across Europe, grow the European economy and benefit our strategic objectives. In March last year, the European Commission launched the SIU Strategy, which included a number of measures to advance the Capital Markets Union project. In September 2025, the European Commission adopted a Recommendation on increasing the availability of Savings and Investment Accounts in Member States and this included an outline of their key characteristics.
Ireland is committed to support initiatives that enhance retail investor participation in capital markets. As such, I strongly welcome the publication of this Recommendation. Savings and Investment Accounts (SIA) can offer a user-friendly account that will empower citizens to make informed decisions, strengthen investment culture across the EU and support citizens to prepare for big life events. The framework is in early stages of development and will require consultation with a wide variety of stakeholders in the coming months. While Ireland does not have a specific investment account for retail investors at present, the tax treatment of retail investments was considered as part of a broader review into the funds and asset management sector in Ireland, which culminated in the ‘Funds Sector 2030’ report that was published in October 2024.
In recognition of the importance of encouraging retail investment, Finance Bill 2025 provided for a reduction in the rate of taxation on returns from Irish and equivalent investment funds and Irish and certain foreign life assurance policies from 41% to 38%.
As part of Budget 2026, the government announced its intention to publish a roadmap in 2026, setting out the intended approach to simplify and adapt the tax framework to encourage retail investment in future Finance Bills. The roadmap will take into consideration developments at EU level in respect of the Savings and Investments Union, including the Recommendation on the availability of Saving and Investment Accounts and draw upon best practice in other countries who operate successful savings accounts. I look forward to receiving proposals on this shortly.
The Funds Review 2030 which was published in October 2024. The review identified forty-two recommendations to continue to grow this important sector of our economy. Number twenty-one on the list of recommendations was that an annual savings and investment forum should be established.
The Savings and Investment Forum will be led by the Department of Finance with support from the Central Bank of Ireland and the Competition and Consumer Protection Commission. It is anticipated that the attendees will be a mix of asset managers, wealth managers, financial planners, digital platforms, banks, insurance firms and pension firms, as well as Government and regulatory officials. The forum will provide the opportunity to discuss the current investment landscape in Ireland. My officials are currently finalising plans to host the first meeting of the forum, which I will chair, and I hope to announce a date for the event shortly with invites to be issued thereafter.
