Dáil Éireann Debate, Thursday - 21 May 2026
204. Deputy Barry Heneghan asked the Tánaiste and Minister for Finance whether consideration has been given to the development of more accessible retail investment supports for first-time investors in qualifying Irish SMEs and start-ups; and if he will make a statement on the matter. [38471/26]
Amharc ar fhreagra206. Deputy Barry Heneghan asked the Tánaiste and Minister for Finance whether consideration has been given to the development of a State-supported retail investment mechanism to allow smaller investors to build long-term holdings in qualifying Irish businesses, including through the use of targeted tax incentives [38473/26]
Amharc ar fhreagra207. Deputy Barry Heneghan asked the Tánaiste and Minister for Finance whether his Department has examined ways to broaden access to investment incentives linked to indigenous Irish SMEs beyond higher income and experienced investors, including through lower entry or tiered investment structures aimed at younger and middle-income earners; and if he will make a statement on the matter. [38474/26]
Amharc ar fhreagraI propose to take Questions Nos. 204, 206 and 207 together.
A number of tax incentives are in place which are intended to encourage investment in indigenous SMEs. These measures include the Employment Investment Incentive (EII) and the Start-Up Capital Investment (SCI) which are income tax reliefs for investment in SMEs by private investors. The Start-Up Relief for Entrepreneurs (SURE) is an income tax relief for individuals who leave employment, in particular PAYE workers, to set up their own business. The relief for investment in innovative enterprises, also known as Angel Investor Relief, is a capital gains tax relief for investments made in qualifying innovative SMEs.
These reliefs operate under the EU General Block Exemption Regulation (GBER). The GBER is currently undergoing a revision. Once revised the GBER may offer further scope for reform of these incentives, and my Department will consider potential options, in due course. However, the new GBER is not expected ahead of Q4 2026.
One of the aims of the Savings and Investments Union is to create better financial opportunities across the EU, providing individuals with greater opportunity 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 individual's hard-earned savings remain 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 recent 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. In line with the Commission’s recommendation, the account should be simple, accessible, tax efficient, easy to administer and transparent on fees.
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.
In addition, in line with Budget 2026 commitments work is underway on a roadmap for the taxation of retail investment, setting out an approach to simplify and adapt the tax framework to further support retail investment, while retaining necessary and important anti-avoidance protections in a proportionate manner. The roadmap includes consideration of the recommendations of the Funds Sector Review on the taxation of retail investment in relation to the issue of deemed disposal, and is expected to be published in the coming months.
