Minister for Finance statement on the Funds Sector 2030

The Minister states:

The Funds Review recommendations on the taxation of investment funds and life assurance policies. As you are aware, in October 2024, my predecessor published the 'Funds Sector 2030: A Framework for Open, Resilient & Developing Markets'. This was an important and wide-ranging review of the funds and asset management sector in Ireland.

The Report sets out 42 recommendations across a wide range of areas to support growth in the funds and asset management sector.

The 2025 Programme for Government has committed to progress and publish an implementation plan for consideration in Budget 2026, taking into consideration the Funds Review recommendations to unlock retail investment and opportunities to grow this sector in Ireland.

On retail investment, new technologies are offering retail investors easier access to investments at lower costs. I have heard the feedback about the need for modernisation of the existing taxation regime for funds and I recognise the complexities with the current regime for the average retail investor.

This is a complex area of taxation that encompasses a wide breadth of tax legislation on domestic funds, life assurance products and offshore funds. We want to ensure that we do this right.

Detailed consideration is therefore being given to the best way to bring about the necessary reforms and to support a greater level of retail investment in capital markets. It is likely given the breadth of the Funds Sector 2030 review that the delivery of associated tax measures may take place over multiple Finance Bill cycles. This work will also take account of developments at an EU level in respect of the Savings Investment Union.