New investment scheme: Here's what we now know - and what we still don't

For months there's been a maddening drip feeding of information about the Minister for Finance's proposed state-backed investment scheme for ordinary Irish savers. Yesterday the government finally nailed some colours to the mast revealing it will be tax free up to a certain threshold, financial institutions will report your tax liability to Revenue, and there'll be no fixed term where your money is "locked away." But key details are being held back for budget day on October 6th. The biggest unknowns are what that maximum threshold will be and what is the flat rate tax that will be applied by the government. The Irish Times' Cliff Taylor, who writes about economics and finance, breaks down the details. If you'\re brand new to the idea of investing, you can check out earlier episodes aimed at demystifying the process here, here and here. Oh and also here.Presented by Aideen Finnegan.These episodes are for information purposes only and do not constitute financial advice. Hosted on Acast. See acast.com/privacy for more information.