Chartered Accountants Ireland has reacted to today’s publication of the Critical Infrastructure Bill which aims to fast-track the approval processes for critical infrastructure projects in Ireland. Commenting on the Bill, Cróna Clohisey, Director of Members and Advocacy at Chartered Accountants Ireland said “As a professional body representing 40,000 businesspeople across the economy, we see this Bill as a significant step in the Government’s approach to addressing Ireland’s infrastructure challenges. “Engagement with our members has demonstrated that infrastructure deficits need to be addressed as a matter of urgency if Ireland is to achieve its growth ambitions, meet its energy, transport and water requirements, and its sustainability goals. It is encouraging, therefore, to see the Bill’s focus on coordination and collaboration between public bodies to facilitate the rapid approval of projects and programmes.” Grant Sweetnam, Head of Public Policy at Chartered Accountants Ireland, said: “For a small, open economy like Ireland, infrastructure is key to competitiveness. It is vital for maintaining the standard of living for our citizens, for attracting foreign direct investment, for supporting our SMEs and for ensuring Ireland remains one of the best locations to do business.” “Our infrastructure continues to be one of our most critical competitiveness deficits. It is essential that barriers are removed to facilitate investment in our infrastructure to safeguard Ireland’s social and economic interests.  We look forward to engaging constructively with Government and stakeholders on this issue.”

This week, the Institute attended the inaugural Annual Savings and Investment Forum held at the Central Bank. The Tánaiste and Minister for Finance, Simon Harris T.D. addressed the Forum announcing his intention to introduce a Savings and Investment Account in Ireland. It is intended that legislation will be drafted this year with a view to products being established in 2027. Savings and investment accounts form a fundamental pillar in Europe's Saving and Investment Union proposals to increase levels of investment among citizens. Statistics from the Central Bank of Ireland show that Ireland has a long way to go when it comes to households and individuals investing in capital markets. This week’s announcement has the real potential to increase retail participation in capital markets and empower workers and households to create wealth over their working lives. The savings and investment account proposed by the Tánaiste is similar in nature to the Swedish model which was first introduced in 2012. Simplicity is at its core, with one simple tax applied which is administered solely by the financial provider and not the individual investor. This means there are no reporting obligations placed on the investor and individual transactions are not taxed. As a consequence, investors can focus on making the right investment decisions for themselves. At the Forum a strong emphasis was placed on financial literacy. Improving understanding and confidence among individuals will be critical to increasing participation in capital markets over the long term. In Ireland, nearly €170 million in household deposits is held in low return deposit accounts which diminish in terms of purchasing power over time. The Institute made the point that without financial literacy, the savings and investment accounts will not be as successful as they can be. The Institute also pointed out that the savings and investment account should be seen as one element of a wider reform plan which should include tax reform and the removal of the deemed disposal tax which penalises investors. The Tánaiste indicated that the roadmap on taxation of investment products will be published in the coming months. Chartered Accountants Ireland is hopeful that the roadmap will contain commitments to remove the deemed disposal tax along with other tax measures to improve the overall investment environment in the economy. We will continue to engage with Government on this issue over the coming months including as part of our Pre-Budget Submission.   You can read our earlier response here. You can read about the Investment Tax Guide published in conjunction with Goodbody here.

  Research published by the Central Statistics Office (CSO) has found that almost a third of Irish enterprises used ICT in 2025 to reduce their environmental impact, slightly ahead of the EU average. It also found that investing in technological innovation can support enterprise resilience, efficiency and competitiveness as well as environmental sustainability within enterprises, allowing enterprises to use fewer resources while producing the same or greater output. Commenting on the release, Morgan O’Donnell, Statistician in the Sustainability, Circular Economy & Transport division of the CSO said: “Sustainability is of increasing importance to enterprises, in terms of meeting environmental regulations and expectations, but also from an economic and social perspective. There is increasing national and international recognition that economic growth alone is not a sufficient measure of success, and that long term prosperity depends on achieving a balanced integration of economic, environmental, and social outcomes.” The research, titled Business in Ireland 2025 - Sustainability Through Innovation and Technology, is the second in a series of releases that brings together relevant enterprise economy statistics from a variety of outputs and looks at them through the lens of sustainability to provide greater insights around sustainability and climate targets.

Cróna Clohisey, Director of Members and Advocacy at Chartered Accountants Ireland, said: “The Forum is an opportunity to advance the recommendations of the Funds 2030 report and to simplify and enhance the tax framework for retail investment, now expected as part of Budget 2026. Together with the anticipated focus on Savings and Investment Union as part of Ireland’s EU Presidency this year, this emphasis on activating hard-earned savings is timely and hugely welcome.  “The Minister’s announcement that the proposed Investment Accounts are being developed with a simplified approach to tax is a positive development. A model based on a low, easily administered annual charge has the potential to reduce complexity and improve accessibility for retail investors.” Grant Sweetnam, Head of Public Policy at Chartered Accountants Ireland, said: “We welcome the strong emphasis placed on financial literacy by the Minister at today’s Forum. Improving understanding and confidence among individuals will be critical to increasing participation in capital markets over the long term. However, it is essential that these reforms are delivered as part of a coherent overall strategy to address fundamental barriers to investment. Addressing wider barriers, including the deemed disposal rule and inconsistencies in tax treatment across products, will be critical to ensuring the full benefits are realised.  “We look forward to engaging constructively with Government and stakeholders at the Savings and Investment Forum and throughout the implementation process to help ensure the roadmap delivers a simple, effective and competitive investment framework for Ireland.”

This week Chartered Accountants Ireland represented members in attending the Cost of Business Advisory Forum run by the Department of Enterprise, Tourism and Employment. The meeting follows the Institute’s submission recently where the focus was on banking, payments and financial services.  We outlined how banking services in Ireland, particularly on the payments side, is behind what is available as standard in other countries.  Competition is essential in moving the dial in terms of banking services and reducing costs for SMEs. We urged both the Central Bank and the Government to recognise that the lack of competition in the banking sector is a drag on the economy and needs to be acted on.    The Institute highlighted the need for the banking sector to move quicker to Account to Account (A2A) payment services.   A2A is an instant payment mechanism which does not need an intermediary card. A2A payments benefit businesses by reducing transaction costs, speeding up settlement and improving reconciliation through real-time data and automation.   At the moment payers end up using credit or debit cards to pay SMEs online and it is the SME that incurs the significant costs of availing of those services. In addition, it is very challenging for SMEs to track who is paying money into their account. This adds to administration cost for SMEs.  In terms of access to finance for SMEs, the Institute highlighted the need for Ireland to deepen the capital markets and improve retail investment in Ireland. We urged the Government to introduce a Savings and Investment Account in Ireland which will encourage workers and households to invest in SMEs.  Following this meeting, the Institute will continue to contribute to the Cost of Business Advisory Forum with the aim of completing a comprehensive report on business costs with important and achievable recommendations for Government. 

The Chairman of Chartered Accountants Ulster Society has called for a reduction in Corporation Tax as part of a wider, credible industrial strategy to drive investment, job creation and long-term economic growth in Northern Ireland. Speaking at the Ulster Society’s Annual Dinner, attended by almost 500 business leaders, policymakers and professionals, Chairman Mark Lawther highlighted the findings of the Society’s latest member survey, which points to ongoing economic uncertainty and the need for decisive policy action. “The global outlook remains unpredictable, and that uncertainty is clearly reflected at a local level,” said Mark Lawther. “Confidence in Northern Ireland’s prospects has dipped slightly, with fewer than 6% of our members currently describing the outlook as ‘good’. That underlines the scale of the challenge—and the urgency of the response required.” Ulster’s Chartered Accountants also voice significant concern around public finances, with 94% of members citing public sector funding pressures as having a negative impact on the local economy. “Public sector reform is seen by our members as the single most important priority,” he said. “Alongside that, there is a clear message that we are not yet making the most of Northern Ireland’s unique post-EU trading position, despite the real potential that exists.” Mark Lawther emphasised that Northern Ireland has strong economic fundamentals, including dual market access to Great Britain and the EU, a competitive cost base, and growing political stability. “After a period when certainty felt like a rare commodity, it is encouraging that we can now talk about stability not as an aspiration, but as a foundation,” he said. “That gives us a real opportunity to build momentum and create an environment where Northern Ireland—and its people—can genuinely thrive.” However, he stressed that unlocking this potential will require bold and coordinated action. “A reduction in Corporation Tax, as part of the right policy mix, could be genuinely transformational,” he said. “It would allow us to leverage our unique market position, attract global investment, support local businesses, and create high-value jobs.” “In recent months, we have engaged with all five of Northern Ireland’s main political parties on this issue. As people who live and work here, and who care deeply about its future, we believe that a competitive Corporation Tax rate could be a game changer for our economy.” Reflecting on the role of the profession, Mark Lawther highlighted the contribution Chartered Accountants make across the economy. “Chartered Accountants are at the heart of business and public service, supporting organisations to adapt, grow and innovate,” he said. “We don’t just witness change—we help make it happen. Every day, our members are working alongside businesses that are evolving and expanding, helping to build a more competitive and resilient Northern Ireland.” He also welcomed the attendance of the First Minister and deputy First Minister, noting the importance of political leadership and engagement with the business community. “Business thrives best in an environment of certainty, collaboration and ambition,” he said. “We very much value the leadership shown in restoring stable government and in setting a constructive tone for the work of the Executive.” The Annual Dinner, sponsored by Danske Bank and MCS Group, celebrated the contribution of Chartered Accountants across Northern Ireland and brought together leaders from across industry, professional services and enterprise.  

This week the Institute met with Minister of State for European Affairs and Defence, Thomas Byrne TD, and officials as preparations continue to gather pace for Ireland’s Presidency of the Council of the EU (‘EU Presidency’), now just three months away.  The meeting provided an opportunity to talk through Chartered Accountants Ireland’s submission on the Presidency and to set out what we believe Ireland’s priorities should be over the six‑month term with a focus on competitiveness and simplification.  Against that backdrop, the discussion focused on the importance of progressing two key initiatives: EU Inc. and the Savings and Investment Union. We emphasised that securing meaningful progress on these proposals within the six‑month window would represent a highly successful Presidency and would be of significant strategic importance for Ireland and the wider EU economy.  Chartered Accountants Ireland reaffirmed its commitment to working constructively with Government in the lead‑up to, and throughout, the Presidency. With a 40,000-strong membership across Ireland and internationally, the Institute is well placed to support engagement, understanding and debate on key Presidency priorities.  Looking ahead, members can expect a programme of activity by the Institute during the six‑month Presidency, including publications, briefings and events focused on competitiveness and simplification. These initiatives will be designed to keep members informed, to showcase professional insights and to contribute positively to Ireland’s Presidency objectives. Further details will be shared in the coming months, and members are encouraged to keep an eye on Chartered News and Institute channels for updates. 

Proposals for a common rulebook to simplify business administration across the Single Market and boost EU competitiveness were presented by European Commissioner Michael McGrath, to the European College of Commissioners today. Chartered Accountants Ireland, the largest professional body on the island of Ireland notes the significant opportunity the proposals represent for Irish businesses, by removing market fragmentation, allowing businesses to operate across the Single Market under one coherent – and more predictable- set of rules and facilitating much-needed investment in Irish businesses.  The EU Inc. proposal is a new EU-wide legal framework designed to make it easier to set up, scale up and invest across the Single Market. It will provide an alternative to the complex and differing regulations faced by businesses that want to expand across different Member States. Under EU Inc., each company will be automatically recognised in all Member States, a key step in removing internal barriers and maximising free movement within the EU.  Cróna Clohisey, Director of Members and Advocacy at Chartered Accountants Ireland, said: “‘EU Inc.’ represents a significant opportunity for Irish businesses, vastly reducing the amount of EU-level compliance required. We therefore strongly support the once-only, digital-first approach in simplifying administration and cutting red tape, which will help reduce costs and ease the burden of regulatory compliance. With a market of 450 million people, the European Single Market is the world’s largest trading bloc and for Irish companies wishing to expand into other Member States, this regulation is an essential first step towards reducing burdensome administration costs and enabling easier access to the European market.    “We are pleased to see that our recommendation to remove tax and labour law from the proposal was taken on board as inclusion of them would have complicated and delayed this vital legislation. We will continue to raise issues to enhance competitiveness and reduce red tape, and, in that context, we have consistently called for the harmonisation of statutory audit requirements, as inconsistency across EU Member States in this respect would present a barrier to fulfilling the promise of the EU Inc proposal.   The Institute welcomed Commissioner McGrath’s intention to adopt these proposals as a regulation, which will ensure consistency across the EU and ensure the proposals work in harmony with Member States’ national company laws. Concluding Ms Clohisey said “The Commission has set an objective to finalise these proposals by the end of the year. We encourage the Government to be proactive during Ireland’s Presidency of the European Council to advance EU Inc. and ensure that SMEs across Europe can realise their potential.” The Institute notes that there is no public consultation planned and the proposals will move directly to discussions by the European Parliament and the Council with the objective to reach agreement on adoption by the end of the year. It is expected that EU Inc. will be operational by 2027. ENDS    

EU Commissioner for Democracy, Justice, the Rule of Law and Consumer Protection Michael McGrath has confirmed that the long awaited 28th Regime or ‘EU Inc’ proposals will be published next week. EU Inc. will be a new EU-wide legal framework designed to make it easier to set up, scale up and invest across the Single Market. It will provide an alternative to the complex and differing regulations faced by businesses that want to expand across different Member States. The ambition is that a company can be established using a fully digital platform within 48 hours, and it will be recognised throughout the European Union. There will be a common rulebook that will simplify business operations across the EU Single Market and boost competitiveness. With 450 million people, the Single Market is the world’s largest trading bloc. For Irish companies wishing to expand into other Member States, this legislation will reduce the burdensome administration costs and enable easier access to the European Market. Commissioner McGrath has set four distinct objectives from these proposals: The ability to register and establish a company cheaper, faster and digitally that is recognised in each Member State; EU Inc will provide for adaptable, flexible and future-ready governance tools; Companies will find it easier to attract and retain talent; Access to investment will be boosted. In September last year, Chartered Accountants Ireland responded to a call for evidence from the Commission on the 28th Regime. There will be a further public consultation on these proposals once they are announced and Chartered Accountants Ireland will engage in that process to ensure the final proposals adopted by the EU will fulfil the ambitions and objectives set out previously. The proposals are set to be launched next week, and the Institute will keep you informed of developments.