Darren O'Rourke (Meath East, Sinn Fein)
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43. To ask the Minister for Finance if he plans to act on the recommendation of the Welfare and Taxation Commission that a working group should be established to review and propose changes to the taxation of funds, life assurance policies and other investment products with the goals of simplification and harmonisation; and if he will make a statement on the matter. [4772/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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On 22 October 2024, following Government approval, my predecessor published a report, entitled ‘Funds Sector 2030: A Framework for Open, Resilient & Developing Markets’, following wide-ranging review of the funds and asset management sector. The Review fulfilled two of the recommendations of the Commission on Taxation and Welfare 2022 report, including that mentioned by the Deputy.

As part of the Review, a public consultation, which ran from June 2023 until September 2023 was held. This culminated in 194 submissions, including 140 from individuals responding in a private capacity. Extensive stakeholder engagement followed the public consultation, with the Review Team meeting with over 100 firms and attending over 30 industry events.

The Report arising from the Review recognises Ireland’s potential to benefit from continued growth in the funds and asset management sector. It sets out a series of recommendations to ensure that, in pursuit of this growth, Ireland’s funds sector framework remains resilient, future-proofed, supportive of financial stability and a continued example of international best-practice.

The 2025 Programme for Government has committed to progress and publish an implementation plan taking into consideration the Funds Review recommendations to unlock retail investment and opportunities to grow this sector in Ireland, and I, working with my officials, will consider next steps in this regard over the coming months.