Photograph: Getty ImagesThe Republic has a funny way of encouraging ordinary savers to invest, taxing them on gains they haven’t even realised. Canada’s Tax-Free Savings Account, for example, allows modest annual contributions (up to $7,000, or about €4,340) with straightforward rules and tax-free growth and withdrawals. Could Simon Harris’s savings scheme for the ‘middle classes’ prove to be a sound investment? Taxing gains that have not been realised is difficult to justify, prevents gains from properly compounding, and is needlessly complex to administer. Stop penalising diversification, simplify the rules, and tax real gains rather than hypothetical ones.

Source: The Irish Times February 21, 2026 16:54 UTC