Fine Gael MEP Regina Doherty has welcomed the savings and investment forum being convened by Tánaiste Simon Harris.
Doherty said that forum was a “critical and long-overdue step towards turning the concept of a savings and investments union into a reality for Irish families.”
Speaking ahead of the Forum, Doherty said, “this is a major moment. For too long, we have had a culture in Ireland where saving is encouraged but investing is penalised. That needs to change. The savings and investments union is about putting people’s hard-earned money to work and helping families build real financial security over time.”
“We need clear next steps, real policy decisions and a roadmap to implementation, with a firm ambition to see measures in place by Budget 2027.”
She also called for Ireland to take a leadership role by removing barriers to investment, with a particular focus on ETF taxation:
“If Ireland wants to lead, we must match ambition with action. While I welcome the steps taken in the last Budget to reduce the burden on ETF investors, the system still sends the wrong signal. The deemed disposal rule means people can be taxed on gains they have not even realised, which discourages long-term, sensible investing.”
“We should be clear. This is a stealth tax that penalises ordinary savers who are trying to do the right thing. Scrapping it entirely would send a clear message to families and investors that the government is serious about changing the overall culture and backing people to build wealth over time.”
Doherty pointed to international best practice, including Sweden’s Investeringssparkonto model:
“A system like Sweden’s would be a gamechanger for Irish families, simple, accessible and designed to encourage long-term investment. That is the kind of practical solution we should be aiming for.”
Concluding, she emphasised the broader cultural shift required:
“This is about people and families who are doing the right thing by putting something aside and deserve a fair chance to see it grow. If we get this right, we can fundamentally change how people think about their financial future. But that will take urgency, leadership and real delivery, starting with this Forum.”