Kel Galavan
👤 SpeakerAppearances Over Time
Podcast Appearances
It's called savings certificates.
It's called the National Solidarity Bond.
And with that, they did a couple of things really good and one thing not so good.
Tell me.
So the things that it did that were really good is it's government backed.
So it's guaranteed.
You put money into state savings, you're guaranteed to get that back.
You're guaranteed to get what you put in back.
Exactly.
And with prize bonds, if you win a prize, it's tax free.
And the second thing they did was they took away the dirt from that.
So your full savings is what you get.
You do not pay tax on it.
So it's tax free and it's government backed.
That's really good.
The downside...
is that the rate of return... The interest is low on it.
It often doesn't even keep up with inflation.
So part of me wonders, why don't they just soup that up a little bit and make it really nice for people in Ireland to save?
Because we have this 150, 170 billion on deposit.