The issue I wish to bring up today is something I have raised a number of times since I was elected. Like the Tánaiste, I believe that an Irish savings and investment account model, especially for young people, can make a huge difference. However, I also continue to believe that tax reform for ETFs would offer an effective and impactful means too for those people who already might be in a position to invest.

The goal we have as a Government and one I know the Tánaiste has been really pushing is to transform investment behaviour in Ireland and assist personal wealth growth. This would complement the auto-enrolment scheme that we have already put in place but this would have minimal cost to business and the Exchequer, too. It would also help counter the growth in Irish deposits and provide an opportunity for personal wealth creation.

One thing I want to highlight with ETFs is the deemed disposal rule that it only really exist in Ireland. It further acts to discourage international funds from being offered to Irish retail investors. Can we work towards ensuring the abolition of the deemed disposal rule forms part of the Government's retail and investment plans in the coming term?

I thank the Deputy for raising this issue again. I know it is one he is very keen to see progress on - as am I - and I assure him that work is under way to ensure this. We cannot be in favour of a savings and investment union at an EU level, which we passionately are, and not make sure our citizens are able to benefit from that here. There are so many people in this country who are trying to do the right thing and put away small amounts of money for themselves, their kids and a rainy day. I am talking about small amounts of money here and middle Ireland. People are playing the rules and are not getting any return on it. In fact, it often loses value in real terms too. I am very keen to establish those investment accounts in Ireland. Work is ongoing on this. The first annual savings and investment forum will take place next Tuesday, where we will begin to parse through with stakeholders how that might be developed. I am looking at what other countries have done and I think Sweden has done well with this. The Deputy is also right that we need to look at what we can do around existing taxation structures on retail investment. He will know we took a first step last year in reducing the rate of tax applying to investments in Irish and offshore funds to 38%. The overall policy rationale for deemed disposal is the issue here that we need to explore and try to make progress on. I am very confident we can make progress together in the time ahead.