A new State-backed savings scheme will only charge tax on people’s savings when their balance surpasses a certain threshold, Tánaiste Simon Harris will say on Tuesday. The Tánaiste will say that “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. Mr Harris told the Cabinet last week that a capital gains tax will not be applied to income generated through the new Government investment scheme. The scheme is set to emulate a Swedish savings scheme known as Investeringssparkonto (ISK).

Source: Irish Examiner March 31, 2026 00:00 UTC