Last week, the newly appointed Minister for Finance, Simon Harris, stated that he intends to launch a savings and investment scheme for Ireland. Harris noted that the government is developing a new savings and investment strategy to put some of the €170 billion of consumer deposits into more productive vehicles that can deliver better returns. Ireland is quite unique among developed market economies in that it does not have incentive schemes for citizens to invest in a tax-friendly manner. On the contrary, the current setup actively penalises investors for having the temerity of wanting to create wealth through non-property-based investments…

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