Ruairí Ó Murchú
Ceist:147. Deputy Ruairí Ó Murchú asked the Tánaiste and Minister for Finance to provide an update on the development of the new State-backed savings and investment scheme for ordinary investors. [68199/26]
Amharc ar fhreagraTuesday, 29 September 2026
Ceisteanna (147, 176)
Colm Burke
Ceist:176. Deputy Colm Burke asked the Tánaiste and Minister for Finance to confirm details of the Government's proposed new investment scheme; and when it is likely to be put in place. [68632/26]
Amharc ar fhreagraFreagraí scríofa
I propose to take Questions Nos. 147 and 176 together.
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. Investment in capital markets can offer households another path to long-term financial wellbeing.
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.
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. We want to make investing simpler, clearer, and more accessible for ordinary people, and help their hard-earned money work harder for them. The aim is to legislate for the framework in 2026 and to allow accounts to be offered from 2027.
Department officials have continued to engage with experts and a broad range of stakeholders as work is progressing on the development of the account, taking on board the range of ideas on the design of an effective investment account in Ireland that best fits the Irish economy and the needs of Irish households and reflects international best practices. The investment account was a key aspect of the 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.
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. This roadmap was published on 31 August 2026. The roadmap also set out the key parameters of the proposed new investment account, acknowledging the need for industry to understand how the account is intended to operate. This information was provided to facilitate the design and introduction of the necessary operational systems by providers in order to allow accounts to be available in 2027.
Further detail on the investment account will be announced as part of Budget 2027 on 6th October.
Question No. 148 answered with Question No. 139.