Barry Ward

So we were saying to ordinary households who have a bit of disposable income, you should not be, for example, putting that into a deposit account with the banks where you're

getting marginal interest.

Instead, you should be investing in a scheme that allows you to pay for the future.

Now, if we then turn around and say, people, also, we're going to scalp you on the tax on that, then you're disincentivizing that.

Well, we actually want a situation where we increase the number of people investing their money, which in this country is really low, 40% in Sweden.

I think we're under 20%, if I remember correctly, in this country.

we lose out as a country because people are not gaining money from investment vehicles on a global basis.

We should be encouraging them, not discouraging them.

Is that not the whole point?

Actually, no, there are certainly people who can't afford to save, but there are also people who can.

At the moment, the people who can afford to save, many of them are just leaving money sitting in deposit accounts, earning nothing.

In fact, the money is becoming less over time because of inflation.

And what we're saying is instead of leaving that money there, you should be incentivized to put it into some kind of savings or investment vehicle, which benefits us all because it brings more money into Ireland rather than letting it just be dissipated into bank profit margins.

Not the vast majority.

It's the way in which it's designed.

But the reality is this country is losing money into inflation by the fact that people who have disposable income are not investing it.

They're allowing it to go into bank profit margins that are spread around the world.

The country benefits from the fact that people invest in savings systems.

Yeah, absolutely.

And I'll agree with Rory on that.