How we treat Irish investors does not make sense from a tax perspective. In the past, the primary way Irish people built wealth in Ireland was to buy additional properties, but for the vast majority this is currently out of reach. All the statistics tell us that Ireland has never been richer and, indeed, personal savings are at an all-time high. However, the scourge of personal savings is obviously inflation. People need to put their money to work. In other countries, exchange-traded funds, ETFs, are a logical and sensible way for ordinary people to invest in their families' future. In Ireland, however, the ordinary investor is hamstrung by the need for deemed disposal, which requires investors to pay a 38% exit tax on unrealised gains every eight years, even if they have not sold them. This tax on unrealised gains undermines compounding and penalises prudence. We need to change this. I will follow my question to the Taoiseach with one to the new Minister for Finance. Can we change this so that investing can be democratised and the ordinary people of Ireland have another safe mechanism to grow wealth?

Sentiment score: 0.12