Tánaiste and Minister for Finance Simon Harris is set to discuss the economic consequences of the ongoing conflict in the Middle East at a two-day gathering of EU finance ministers, which gets underway later today.
Ministers are expected to review steps taken by member states in recent weeks to support households and businesses facing rising fuel costs caused by the conflict in Iran, reports RTE.
Mr Harris is also scheduled to hold a bilateral meeting with Sweden’s finance minister, Elisabeth Svantesson, to discuss Ireland’s proposed new investment account.
The proposal — aimed at encouraging greater household investment — would involve a dedicated savings scheme offering a low flat tax rate and exemption from capital gains tax. A similar system is already in place in Sweden, reports RTE.
Speaking ahead of the summit, Mr Harris said discussions would focus on increasing energy costs linked to the Middle East conflict.
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“This is the first in-person meeting of EU finance ministers since governments across the EU introduced significant budgetary measures to shield citizens and businesses from the unacceptable rise in energy costs due to the crisis in the Middle East.
“I look forward to receiving an update from the European Commission on the EU’s response to date and exchanging views with colleagues on the policy measures implemented at national level,” he said, reports RTE.
“This is also the final meeting of EU finance ministers to take place in Brussels before Ireland takes on the Presidency of the Council of the European Union in July.
“With that in mind, I will be holding a number of bilateral discussions on the sidelines of the meetings, including with my Swedish counterpart, with a focus on the proposed new investment account for 2027 and Ireland’s upcoming Presidency,” Mr Harris added.
Tomorrow morning, in its role as incoming Presidency, Ireland will take part in the ‘annual economic and financial dialogue with regional partners’, reports RTE.
Mr Harris is also expected to hold bilateral meetings with Germany’s Vice-Chancellor and Finance Minister Lars Klingbeil, as well as Italy’s Finance Minister Giancarlo Giorgetti, reports RTE.
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