255. Deputy Naoise Ó Cearúil asked the Tánaiste and Minister for Finance further to the National Financial Literacy Strategy Annual Review and Action Plan 2026-2027, whether the development of the proposed Government Investment Account will include age-specific or child-focused investment options, aimed at supporting long-term saving for children; if he will outline any related plans under consideration; and if he will make a statement on the matter. [48523/26]

256. Deputy Naoise Ó Cearúil asked the Tánaiste and Minister for Finance whether his Department has undertaken any analysis in relation to child-specific savings or investment vehicles, including tax-free account or trust-based models; the expected timeline for decisions in this area; and if he will make a statement on the matter. [48524/26]

I propose to take Questions Nos. 255 and 256 together.

Ireland still does not have a sufficiently diversified savings and investment culture. Too much of people’s hard-earned savings remains in low-yield deposits, where inflation can erode value over time. Investment in capital markets can offer households another path to long-term financial wellbeing.

The tax treatment of retail investments was considered as part of a broader review into the funds and asset management sector in Ireland, which culminated in the ‘Funds Sector 2030’ report that was published in October 2024.

In recognition of the importance of encouraging retail investment, Budget 2026 provided for a reduction in the rate of taxation on returns from Irish and equivalent investment funds and Irish and certain foreign life assurance policies from 41% to 38% which took effect from 1 January 2026.

Budget 2026 also included a commitment to publish a roadmap in 2026, setting out the intended approach to simplify and adapt the tax framework to encourage retail investment.

At the 2026 Savings and Investment Forum, I announced the Government’s intention to introduce the legislative framework for an Investment Account in 2026. We want to make investing simpler, clearer, and more accessible for ordinary people, and help their hard-earned money work harder for them over time.

The aim is to legislate for the framework in 2026 and to allow accounts to be offered from 2027. It will be a key part of a broader rethink of the taxation of retail investment.

The Government’s view is that the account should be simple, accessible, tax efficient, easy to administer, transparent on fees and portable across borders where possible.

In terms of designing the model that best fits the Irish economy and the needs of Irish households, the views of relevant experts are being considered as well as learning from best international practices. Investment accounts for children are a policy option which a number of countries have pursued.

Officials in my Department are currently developing policy options regarding the investment account framework which will form part of the deliberations for Budget 2027 over the coming months.