By Cillian Sherlock, Press Association<\/p>\n
The T\u00e1naiste aims to bring a framework for an incentivised savings scheme to Government \u201cin the first half of this year\u201d.<\/p>\n
Simon Harris said he wants to develop the scheme for people who are \u201clocked out\u201d out of \u201cmeaningful participation\u201d in investment.<\/p>\n
The Minister for Finance said: \u201cI fully know there\u2019s lots of families in Ireland under financial pressure, I fully get that.<\/p>\n
\u201cBut I also know alongside that, there\u2019s about 170 billion euro on deposit in Ireland today. We need to make that money work, not just for the country, not just for the economy, but for our SMEs, but also, crucially, for people, for families, for young people.\u201d<\/p>\n
This would be an area of priority.<\/p>\n
Simon Harris<\/p>\n
Mr Harris said the retail investment strategy could ensure \u201cpersonal economic and financial resilience\u201d.<\/p>\n
He added: \u201cI will deliver two budgets as Finance Minister in this government, and it\u2019s my intention that this would be an area of priority.\u201d<\/p>\n
He said: \u201cI\u2019m talking about people who are not uber wealthy by any manner or means, but people who are trying to put away a few bob at the end of the week, at the end of the month, either for their own futures to perhaps save for a deposit of a house, perhaps for their children\u2019s futures, perhaps just for a rainy day in terms of their own household economy.<\/p>\n
\u201cAnd at the moment, quite frankly, they\u2019re locked out of any meaningful participation in the investment scenario in Ireland, locked out by complexity, locked out by tax rules, locked out by the amount you\u2019d have to invest to be able to benefit in any sort of meaningful way.\u201d<\/p>\n
I am in Brussels today for a meeting of European Finance Ministers. Many of you are asking about the proposed saving scheme. Here is some more info. pic.twitter.com\/EF8BfxErd3<\/a><\/p>\n