Emer Currie
Ceist:268. Deputy Emer Currie asked the Tánaiste and Minister for Finance if an initiative is feasible in Ireland (details supplied); and if he will make a statement on the matter. [13944/26]
Amharc ar fhreagraThursday, 19 February 2026
Ceisteanna (268)
Freagraí scríofa
The 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. 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. Ireland’s view of an SIA is that the account should provide maximum flexibility to the retail investor whilst not exposing the investor to undue risk through the option to invest in complex products. I look forward to receiving proposals on this shortly.
I am also acutely aware that part of the reason why retail participation in markets is limited, while at the same time Ireland is currently ranked as one of the top EU Member States in terms of savings held in deposit accounts, is owing to a lack of awareness of these products and in some cases the complexity of some of the products can also dissuade retail consumers. As such it will be a priority of the government to promote financial literacy and widen retail investment across the country. This will assist in ensuring savings could be invested for the benefit of individuals as well as the European economy.
Financial literacy is an essential life skill and important component of financial consumer protection. Ireland last February launched Ireland’s first National Financial Literacy Strategy. In this regard, Ireland welcomes the Commission’s financial literacy strategy, which will aim to empower citizens, raise awareness and increase their participation in capital markets, creating a more “investment savvy” culture.
As the deputy, will be aware Ireland assumes the rotating Presidency of the Council of the EU on 1 July 2026, with advancing the Savings and Investment Union (SIU) agenda as one of our key strategic priorities to drive European competitiveness, integration and growth.
These proposals, together with the roadmap which I have already mentioned will be key to providing Irish households with more and safer opportunities to invest in and increase the value of their savings.