The Department of Finance has confirmed that Ireland's upcoming State-backed personal investment scheme will not feature ethical restrictions on fund selection, permitting investments in sectors such as fossil fuels, tobacco, and weapons, while ruling out high-risk assets like cryptocurrencies.

According to the department, eligible options within the tax-advantaged scheme will encompass listed shares, corporate bonds, and a wide range of investment funds. A department spokesperson stated that officials do not intend to apply additional restrictions based on geography, industry, or strategy, emphasizing that the goal is to allow individuals to diversify their holdings across asset classes, issuers, and risk profiles.

The flagship initiative, championed by Tánaiste and Minister for Finance Simon Harris, is designed to encourage Irish households to shift a portion of cash deposits into capital markets. Irish households hold an estimated €170 billion in low-interest bank accounts, representing a significantly higher proportion of cash assets than the European Union average. Officials also view the scheme as a way to provide alternative retirement savings options beyond property investment.

The decision not to enforce Environmental, Social, and Governance (ESG) criteria has drawn political criticism. Green Party finance spokesperson Michael Pidgeon described the absence of ethical boundaries as a "bizarre policy choice," arguing that while individuals should be free to invest as they choose, State tax breaks should actively encourage sectors that benefit society, such as renewable energy.

While direct crypto holdings and complex derivatives remain barred due to risk considerations, full operational details of the personal investment scheme—including contribution limits and final tax rates—are expected to be announced alongside Budget 2027 in October.