Lisa Kealy, Partner and Head of Wealth & Asset Management, EY Ireland: Ireland has made significant strides through strong collaboration between Government, the Department of Finance (DoF), and the Central Bank. For the first time, Financial Services was included in the Programme for Government, alongside the launch of a national financial literacy program. The DoF advanced the Funds Sector 2030 strategy, implementing many of its 42 recommendations, most notably reforms to enable greater access to private assets. Regulatory progress also accelerated with AIFMD II and consultation papers CP161 and CP162, paving the way for enhanced frameworks for private asset investment. These actions collectively reinforce Ireland’s position as a leading, innovative financial services hub.

Building on this progress, EY’s response to the Department of Finance’s public consultation on the 2026–2030 Ireland for Finance Strategy sets the stage for the future, focusing on three strategic imperatives that will define Ireland’s next wave of growth.

Ireland should reinforce its openness to business through clear regulatory frameworks and timely implementation - reputation alone is not enough.

We believe that the following actions are needed:
• Establish a competitive mandate for growth.
• Empower a Financial Services Growth Taskforce, an effective coalition, to execute that mandate effectively.
• Mobilise Capital for our People and our Country

Ireland holds €170 billion in household savings, mostly tied up in cash and property, while retail investors remain under represented in capital markets. Make our world-class asset management industry accessible to Irish citizens so they can achieve better returns. Reform tax treatment to level the playing field with international investors and encourage long-term investing - think SSIA 2.0. Unlocking retail participation will strengthen financial resilience and foster a culture of savings and investment that benefits individuals and the broader economy.

We believe the following actions will help to achieve this:
• Create a level playing field for Irish citizens through tax reform.
• Launch tax-incentivised savings initiatives to encourage long-term investing (SSIA 2.0).

Mobilising Irish pension assets and attracting international capital can unlock investment in critical areas such as housing, energy, infrastructure, and SMEs. This approach addresses urgent national priorities while strengthening Ireland’s role as a trusted financial hub.

Ireland should seize the growing demand for private assets - spanning private equity, private debt, and real estate - by positioning itself as the preferred domicile for alternative investment structures.

At the same time Ireland must lead the next wave of financial innovation by embracing technology and expanding into high-growth sectors. Accelerate digital transformation through AI, tokenisation, and ESG-driven platforms, while creating innovation hubs that foster collaboration. These bold actions will future proof the industry and secure Ireland’s role as a dynamic, globally competitive financial centre.

This can be achieved by completing the product range for private assets (private equity, real estate, private credit) on par in every way with leading jurisdictions to capture the next wave of growth.