Exchequer Returns
Dail Éireann — 2026-09-29
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Simon Harris (FG), Wicklow

I thank Deputy Nash. The introduction of the investment account is a key step in fostering a stronger culture of long-term investment in our country and supporting greater financial resilience over time for individuals and families. We want to provide a simple, accessible and attractive framework for investment. The investment account will help individuals to put their savings to work, strengthen their economic resilience by helping people build assets, prepare for future financial needs, and improve their ability of our citizens to withstand economic shocks. It also contributes to the broader piece of work going on in deepening Europe's and Ireland's capital markets. While many of the parameters of the investment account have been shared and published in the roadmap on the taxation of retail investment this summer, a number of aspects, as the Deputy rightly suggests, will be announced on budget day, including the tax-free threshold, the flat rate of tax that will apply and the maximum amount you can contribute to an account in one year. In that context, final estimates of initial costs to the Exchequer on the introduction of the investment account will be provided as part of budget 2027. We will also provide, as the Deputy seeks, an economic impact assessment of the proposed investment account. The assessment uses a modified version of the dynamic representative agent model developed by the European Commission. The model has been adjusted to incorporate Irish parameters and data. It examines the potential impact of the proposed account on household investment, wealth accumulation, consumption and Exchequer revenues over a 20-year period. It compares the introduction of the account with a baseline in which there is no policy change. The analysis uses Irish household wealth data from the European Central Bank and income data from the Central Statistics Office. It also takes account of international experiences. In addition, the staff working document published with the European Commission's recommendation on savings and investment accounts in 2025 considered the potential fiscal impact of introducing investment accounts on member states at the EU level and suggests that these changes would have a positive economic impact. To cut a long story short, yes, we will publish it, and it will be published in advance of this House considering legislation and the detail of that legislation, so that we will then have an opportunity to tease through it together.

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2026-09-29/debate/main
Retrieved: 2026-10-05T01:00:59+00:00
Sitting date: 2026-09-29