Ireland to launch new personal savings scheme in 2027
Ireland will launch a new investment scheme in 2027 to move funds from low-interest accounts. The plan includes a flat-rate tax on assets above a threshold.
The government of Ireland has announced plans to launch a new personal savings and investment scheme starting in 2027. This initiative is designed to encourage citizens to move a portion of the estimated 170 billion euros currently held in bank deposits, which earn little to no interest, into more productive investment vehicles.
Finance Minister Simon Harris, who also serves as the country's deputy prime minister, identified the policy as a top priority since assuming his role four months ago. During an industry event on Tuesday, Harris explained that the proposed investment accounts would likely be subject to an annual flat-rate tax on the value of assets held above a specific tax-free threshold. This flat rate could potentially act as the primary form of taxation for investments within the scheme.
