Simon Harris: New Investment Accounts to Boost Resilience

Simon Harris sets out proposed new investment accounts for Irish tax residents, explaining eligibility, tax treatment, contribution rules and the timing for full details. He says the policy aims to build household economic resilience and create a culture of investment, with key parameters revealed on Budget Day, 6 October.

Eligibility and access

Simon Harris explains the account will be available to any Irish tax resident over 18, with one account permissioned per person. The proposal is designed to be broadly accessible while keeping administration straightforward.

Tax treatment and contributions

The plan includes a tax-free threshold and a low flat annual tax rate on amounts above that threshold. There will be no minimum annual contribution, though a maximum annual contribution will apply; the exact threshold, rate and limit will be announced on Budget Day.

Timing and next steps

All concrete figures for the tax-free allowance, flat rate and contribution cap will be unveiled on 6 October as part of Budget Day. Until then, the announcement signals the government is preparing measures to encourage personal investment.

Why it matters

Simon Harris frames the accounts as a way to translate national economic strength into greater household financial resilience. The account aims to make it easier for people to build savings and investments without restrictive lock-in, supporting long-term financial security.