New Government Savings and Investment Scheme

In this episode of Beyond Money, we're joined by our own David Looney, Certified Financial Planner and Financial Advisory Director at Alpha Wealth, to look at why so many Irish households are sitting on record levels of cash savings and what that means for their long-term financial future.David explains why deposit accounts remain the default choice for so many savers, even as inflation steadily erodes the value of that money, and what's holding people back from investing instead. He unpacks the real difference between saving and investing, and what long-term investing can offer that cash sitting on deposit simply can't.Cliona and David also look ahead to Budget 2027, where Tánaiste and Minister for Finance Simon Harris is expected to give further detail on a proposed new Government-backed savings and investment scheme, designed to encourage people to move money out of low-interest accounts and into capital market investments. They discuss what's known so far, the questions still to be answered, and how a scheme like this could change the way ordinary savers approach growing their money.An honest and practical conversation about the benefits of saving, the opportunity cost of playing it too safe and what to watch for as Ireland's savings landscape prepares for one of its biggest shifts in years.