Ireland’s financial services sector is poised for a new savings and investment scheme, with Tánaiste and Minister for Finance Simon Harris indicating a plan will be approved “in the first half of this year.” The initiative, aimed at increasing retail investor participation, was unveiled alongside a five-year strategy, ‘Securing Future Competitiveness,’ by Financial Services Ireland (FSI) at Government Buildings on Tuesday.
The FSI strategy, covering 2026 to 2030, seeks to bolster Ireland’s position as a competitive financial center, supporting job creation and expanding its offerings in areas like private markets, artificial intelligence and digital finance. More than 112,000 people are currently employed in the Irish financial services sector, according to FSI.
Harris, who assumed the role of Minister for Finance in November 2025, following the resignation of Paschal Donohoe, emphasized the importance of improving returns for Irish savers. He stated he intends to present proposals in this area in the coming weeks, and highlighted the objectives of the Savings & Investment Union. “I look forward to working with FSI; in particular, in ensuring Irish savers benefit from the objectives of the Savings and Investment Union,” Harris said.
Declan Bolger, chair of FSI, echoed the need for collaboration, particularly in the context of the EU’s Savings and Investment Union. “The first action we are taking as part of the EU’s drive for SIU is creating a blueprint for a simplified, tax-efficient investment vehicle for Irish consumers and in that respect we want to perform closely with Government and other stakeholders to develop common ground on this critical first step,” Bolger said. FSI will likewise collaborate with other industries on priority issues, according to the organization.
The strategy launch follows a recent cabinet reshuffle that also saw Helen McEntee appointed as Minister for Foreign Affairs and Minister for Defence. Harris, speaking in the Dáil after his appointment, affirmed that there would be “no pause in the momentum” of government business.
The government’s Ireland for Finance 2026–2030 plan will be delivered in collaboration with key partners, including FSI, according to the Tánaiste. The FSI strategy identifies a need for policies that protect the industry and position it to attract high-value activities and products.
The Tánaiste has indicated the new savings strategy will be included in the next budget.
