October Budget 2027 to be €7 Billion; Harris Discusses Investment Scheme, Child Abuse Paywalls

Tánaiste Simon Harris informed his Fine Gael parliamentary party that October’s Budget 2027 will total around €7 billion, a reduction from its predecessor’s €9.4 billion. The split between tax and spending will be decided in the summer economic statement. Harris outlined plans to protect the economy and assist working individuals, while also addressing criticisms from the Irish Fiscal Advisory Council regarding previous spending.

Harris also met with representatives from AIB, Bank of Ireland, and Permanent TSB to discuss his proposed personal investment account (PIA). This scheme aims to simplify investing for ordinary people by encouraging savings into stocks and other investments, replacing existing charges with a single flat-rate annual tax. Economists have raised concerns that such a scheme could favor wealthier households and create tax base issues. Harris intends to introduce a National Financial Literacy Strategy to support a retail investment culture in Ireland.

Additionally, Harris highlighted concerns from the Irish Internet Hotline’s annual report, which revealed that child abuse websites are increasingly using paywalls to evade detection. He stressed the need for government, financial institutions, gardaí, and tech companies to collaborate more closely to disrupt these criminal networks and combat online fraud.