Dáil Éireann Debate, Wednesday - 25 March 2026
51. Deputy Malcolm Byrne asked the Tánaiste and Minister for Finance to provide the details of the State saver scheme; the timeframe for its introduction; and if he will make a statement on the matter. [23009/26]
Amharc ar fhreagraThe EU Savings and Investments Union aims to create better financial engagement across the EU, providing people with more opportunities to invest and having the potential to improve 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 drawing on the experiences in a some Member States and other third countries.
This Government is committed to support initiatives that enhance retail investor participation in capital markets both domestically and more generally through out the EU. As such, I strongly welcome the publication of this Recommendation by the EU Commission. 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, Budget 2026 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% which took effect from 1 January 2026.
In addition, Budget 2026 also included a commitment 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, which will be published in the coming months, will take into consideration developments at EU level in respect of the Savings and Investments Union, including the Recommendation on SIAs and draw upon best practice in other countries who operate successful savings accounts.
Finally taking account of recommendation 21 of the Funds Sector 2030 Report my Department, in conjunction with the Central Bank of Ireland and the Competition and Consumer Protection Commission, is arranging to host a Savings and Investment forum. I will be participating in this event and I intend to set out further some of my preliminary thoughts in relation to the possible introduction of an investment account for retail participants in Ireland that would build on the experiences in other jurisdictions.
