Dispatch · Government
Dispatch · 7 Oct 2026

Simon Harris's new investment account is an EU savings plan in disguise, Dooley says.

7 Oct 20265:372.3K views
GovernmentEuropean UnionSimon Harris
YouTube
TL;DR
  • Dooley says Simon Harris announced the new personal investment account the day before with great fanfare, calling it a game-changer for people with money on deposit. He puts the sum on deposit in Irish banks at up to 180 billion euro, and says about 11 trillion euro sits in European bank deposits earning little interest. As he describes it, up to 12,000 euro a year can go in, up to 50,000 euro can be held tax-free, anyone 18 or over can open one, and it is limited to one account per person. He says the plan is to pass it in the finance bill and have it running by 1 July 2027.
  • He argues this is not Harris's own idea but a copy and paste job from the European Union, which he says has pushed the agenda for years. He says a speaker last month described household savings as idle and lazy and in need of work. In his reading, the aim is to mobilise private savings and release equity to companies that back the green transition, digital transformation and the defence industry. He ties it to the savings and investment union and the Draghi report on European competitiveness.
  • Dooley says the European Union cannot keep adding national debt and has seen the bond market nearly spiral out of control, so it now wants citizens' deposits. He compares it to the earlier attempt to seize Russian assets. He says higher taxes would add pressure on people, and that the push for competitiveness brings austerity, cuts to public services, privatisation and deregulation. He says the tax-free offer and the stress on simplicity are meant to manufacture consent, and he notes it comes as the EU moves toward digital currency and digital identification.
  • He says financial commentators have praised the announcement and that many will be well paid for pushing it. He calls it part of a bigger centralisation drive by the EU and names Paschal Donohoe as one of the key architects of the savings and investment union before he left for the World Bank. He adds that Donohoe offered a lot of Irish public money to get that job. He says he covered the topic in a video last year and will link it in the comments.
Transcript
00:01

Hello everyone

Hello everyone. Yesterday's Simon Harris announced with much fanfare the new personal investment account. He said this is going to be a game-changer and going to help a lot of people who have money on deposit in the bank. It's estimated up to 180 billion euro was on deposit in Irish bank accounts. And right across Europe, it's estimated around 11 trillion euro was held by European citizens on deposit accounts in banks earning very little interest. So, this idea now is to move it into.

Invest in private market, invest in companies. So, this is the agenda of Simon Harris yesterday. He said yesterday, he said that up to 12,000 can be invested annually, up to 50,000 euro can be in these accounts tax-free. And he said he wants to make people more financially literate by looking at investing in private companies. You can be 18 years or older and open one of these accounts. And there can be one account per person. Now, his.

Intention is to push through this through the finance bill over the coming months. And it will be in action by July the 1st of 2027. But wait for it. This isn't a brainwave by Simon Harris. This is a copy and paste job from the European Union because the European Commission have been pushing this agenda over the past number of years. Last month, Fiona O'Loughlin spoke and said she wants to tap into household savings. She said much money is idle and.

Lazy and it needs to get to work. This is the whole idea about activating and mobilizing people's private personal savings. It's about releasing equity to private companies. And companies, for instance, which are pushing the European Union agenda. Anything, for instance, that pushes the green transition, digital transformation, and the defense industry. Yes, you heard it correctly. They're going to use people's private money to invest in the war machine, the digital dystopia, and the net zero madness that's being pushed by the.

European Union. This is part of the European Union savings and investment union, and also part of the key Draghi report on European Union competitiveness because they can't keep settling more debt onto nations. That is virtually unsustainable at the moment. We've seen the bond market spiral nearly out of control, and at the same time, the idea now is to access more money. Remember when the European Union tried to frozen and trying to seize Russian assets? Well, now it's.

02:50

European citizens' bank accounts they're after because companies need

European citizens' bank accounts they're after because companies need equity, and these startup and other companies need equity. So, yes, you'll be making money from the war machine, from the green transition, and from digital dystopia. Here we go. But, this is part of the wider agenda about mobilizing private money. And at the same time, this is the same European Union that talks about democracy, values, and freedoms. Seems like there are hints of the past here in Europe. This is pushed by an.

Italian finance minister a number of years ago. I covered this also in a video last year, which I'll add a link to in the comments at the end of this current video. And as I said, they're trying to access savings so they don't saddle more national debt. And European Union can't be certain increasing taxes. Well, that's part of the agenda, isn't it? They can't do it because they put more pressure on people. They'll drive more austerity through in the whole name of.

“And as I said, they're trying to access savings so they don't saddle more national debt”

Competitiveness, cutting public services, and pushing the privatization and deregulation agenda. And they're trying to make everything, according to them, very simple to access. This is what it's all about, simplification. Make it easy for people to move into these accounts so they can think, well, I'm earning a little bit more than I was earning on deposit in banks. Isn't it very interesting the way this is happening at the same time they're moving towards digital currency and digital identification. And they want to.

Simplify the complex rules. This is where they're offering some which, for instance, on tax-free basis. It's again, it's the whole idea to manufacture consent and draw people towards pushing their agenda and mobilizing, as the underline said, and activating people's private personal savings. >> [snorts] >> So, this is what's really behind the whole announcement yesterday by Simon Harris. And this that's been watched lauded by many financial commentators. And I'm sure many will be well paid off for pushing this agenda. So, this is.

What's behind it. And this is a bigger centralization agenda of the European Union, part of their European savings and investment union. And we all know one of the key architects of that was Paschal Donohoe, who went off to the World Bank. And offered so much of our Irish public money to get that job in the World Bank, as well. This is how they work. And this is what's happening right in front of our eyes. So, thanks.

05:31

So much for the support

So much for the support. Please share my videos. And from Dublin Savings.

Discussed in this video
European UnionSimon HarrisIrishWorld Bank
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Dispatch
7 Oct 2026 · Government · 5:37

Simon Harris's new investment account is an EU savings plan in disguise, Dooley says.

Dooley reacts to Simon Harris's announcement of a personal investment account, which would let people put up to 12,000 euro a year, and up to 50,000 euro in total, into tax-free accounts from 1 July 2027. He says the idea is copied from the European Union's savings and investment union and is meant to move household deposits into private companies that suit the EU agenda.

GovernmentEuropean UnionSimon HarrisIrishWorld Bank
2.3K views Discussion
TL;DR
01
Dooley says Simon Harris announced the new personal investment account the day before with great fanfare, calling it a game-changer for people with money on deposit. He puts the sum on deposit in Irish banks at up to 180 billion euro, and says about 11 trillion euro sits in European bank deposits earning little interest. As he describes it, up to 12,000 euro a year can go in, up to 50,000 euro can be held tax-free, anyone 18 or over can open one, and it is limited to one account per person. He says the plan is to pass it in the finance bill and have it running by 1 July 2027.
02
He argues this is not Harris's own idea but a copy and paste job from the European Union, which he says has pushed the agenda for years. He says a speaker last month described household savings as idle and lazy and in need of work. In his reading, the aim is to mobilise private savings and release equity to companies that back the green transition, digital transformation and the defence industry. He ties it to the savings and investment union and the Draghi report on European competitiveness.
03
Dooley says the European Union cannot keep adding national debt and has seen the bond market nearly spiral out of control, so it now wants citizens' deposits. He compares it to the earlier attempt to seize Russian assets. He says higher taxes would add pressure on people, and that the push for competitiveness brings austerity, cuts to public services, privatisation and deregulation. He says the tax-free offer and the stress on simplicity are meant to manufacture consent, and he notes it comes as the EU moves toward digital currency and digital identification.
04
He says financial commentators have praised the announcement and that many will be well paid for pushing it. He calls it part of a bigger centralisation drive by the EU and names Paschal Donohoe as one of the key architects of the savings and investment union before he left for the World Bank. He adds that Donohoe offered a lot of Irish public money to get that job. He says he covered the topic in a video last year and will link it in the comments.
Prefer to watch? The full video is on YouTube →
5:37
Transcript · auto-captions, polish pending

Hello everyone

Hello everyone. Yesterday's Simon Harris announced with much fanfare the new personal investment account. He said this is going to be a game-changer and going to help a lot of people who have money on deposit in the bank. It's estimated up to 180 billion euro was on deposit in Irish bank accounts. And right across Europe, it's estimated around 11 trillion euro was held by European citizens on deposit accounts in banks earning very little interest. So, this idea now is to move it into.

Invest in private market, invest in companies. So, this is the agenda of Simon Harris yesterday. He said yesterday, he said that up to 12,000 can be invested annually, up to 50,000 euro can be in these accounts tax-free. And he said he wants to make people more financially literate by looking at investing in private companies. You can be 18 years or older and open one of these accounts. And there can be one account per person. Now, his.

Intention is to push through this through the finance bill over the coming months. And it will be in action by July the 1st of 2027. But wait for it. This isn't a brainwave by Simon Harris. This is a copy and paste job from the European Union because the European Commission have been pushing this agenda over the past number of years. Last month, Fiona O'Loughlin spoke and said she wants to tap into household savings. She said much money is idle and.

Lazy and it needs to get to work. This is the whole idea about activating and mobilizing people's private personal savings. It's about releasing equity to private companies. And companies, for instance, which are pushing the European Union agenda. Anything, for instance, that pushes the green transition, digital transformation, and the defense industry. Yes, you heard it correctly. They're going to use people's private money to invest in the war machine, the digital dystopia, and the net zero madness that's being pushed by the.

European Union. This is part of the European Union savings and investment union, and also part of the key Draghi report on European Union competitiveness because they can't keep settling more debt onto nations. That is virtually unsustainable at the moment. We've seen the bond market spiral nearly out of control, and at the same time, the idea now is to access more money. Remember when the European Union tried to frozen and trying to seize Russian assets? Well, now it's.

European citizens' bank accounts they're after because companies need

European citizens' bank accounts they're after because companies need equity, and these startup and other companies need equity. So, yes, you'll be making money from the war machine, from the green transition, and from digital dystopia. Here we go. But, this is part of the wider agenda about mobilizing private money. And at the same time, this is the same European Union that talks about democracy, values, and freedoms. Seems like there are hints of the past here in Europe. This is pushed by an.

Italian finance minister a number of years ago. I covered this also in a video last year, which I'll add a link to in the comments at the end of this current video. And as I said, they're trying to access savings so they don't saddle more national debt. And European Union can't be certain increasing taxes. Well, that's part of the agenda, isn't it? They can't do it because they put more pressure on people. They'll drive more austerity through in the whole name of.

“And as I said, they're trying to access savings so they don't saddle more national debt”

Competitiveness, cutting public services, and pushing the privatization and deregulation agenda. And they're trying to make everything, according to them, very simple to access. This is what it's all about, simplification. Make it easy for people to move into these accounts so they can think, well, I'm earning a little bit more than I was earning on deposit in banks. Isn't it very interesting the way this is happening at the same time they're moving towards digital currency and digital identification. And they want to.

Simplify the complex rules. This is where they're offering some which, for instance, on tax-free basis. It's again, it's the whole idea to manufacture consent and draw people towards pushing their agenda and mobilizing, as the underline said, and activating people's private personal savings. >> [snorts] >> So, this is what's really behind the whole announcement yesterday by Simon Harris. And this that's been watched lauded by many financial commentators. And I'm sure many will be well paid off for pushing this agenda. So, this is.

What's behind it. And this is a bigger centralization agenda of the European Union, part of their European savings and investment union. And we all know one of the key architects of that was Paschal Donohoe, who went off to the World Bank. And offered so much of our Irish public money to get that job in the World Bank, as well. This is how they work. And this is what's happening right in front of our eyes. So, thanks.

So much for the support

So much for the support. Please share my videos. And from Dublin Savings.

Transcript generated from the video’s captions and lightly segmented — watch the original on YouTube →