Ireland’s financial services sector is poised for a new savings scheme aimed at increasing retail investment, with Tánaiste and Minister for Finance Simon Harris indicating a plan will be approved “in the first half of this year.” The initiative, which seeks to simplify investment options for Irish consumers, is a key component of the government’s broader strategy to boost domestic savings and align with the European Union’s Savings and Investment Union (SIU).
Financial Services Ireland (FSI), representing the financial services sector, formally launched its five-year strategy, “Securing Future Competitiveness,” at Government Buildings on November 25, 2025. The strategy outlines a roadmap for enhancing Ireland’s position as a competitive financial center, supporting job creation, and expanding offerings in areas like AI and digital finance. Harris, speaking at the launch, emphasized the importance of increasing retail investor participation rates and empowering households to secure their long-term financial future.
The FSI strategy specifically calls for a “simplified, tax-efficient investment vehicle” for Irish consumers, a move directly linked to the EU’s SIU objectives. Declan Bolger, FSI Chair, highlighted the opportunity presented by the SIU, stating the initial step will be “creating a blueprint for a simplified, tax-efficient investment vehicle.” FSI intends to collaborate closely with the government and other stakeholders to develop a consensus on this critical first step.
Harris indicated that proposals related to savings and investment returns will be included in the upcoming budget. He stated his intention to ensure Irish savers benefit from the objectives of the Savings & Investment Union, adding that “hard-working people must get better returns on their savings.”
The development of the savings scheme is occurring alongside a broader government effort to enhance Ireland’s financial competitiveness. According to a speech delivered by Harris, Ireland’s role as a gateway to Europe for global and European firms positions it to play a significant role in enhancing both Irish and EU competitiveness, particularly in funding SMEs and critical infrastructure projects. The government initiated engagements with EU and US counterparts following the introduction of widespread tariffs, aiming to mitigate potential impacts on the Irish economy and investment.
The FSI strategy, covering the period 2026 to 2030, aims to position Ireland as a progressive and competitive location for financial services firms. More than 112,000 people are currently employed in the financial services sector in Ireland, and the FSI will work with government and regulatory bodies to introduce policies that protect the industry and attract strategic, high-value-add activities.
The government’s Ireland for Finance 2026–2030 plan will be delivered in collaboration with key partners, including FSI, according to Harris. The FSI will likewise collaborate with other industries on priority issues to drive success in areas of competitiveness.