Fine Gael to give up to €1,500 to all newborns if returned to power

Each child could receive at least €1,000 into an account set up in their name and up to €1,500 for children from a disadvantaged background 

It is estimated that, if a family has a means to top up what is being called an Acorn account, to the tune of €2,000 annually, the child could have €53,000 by the time they turn 18. 

At least €1,000 lodged for every newborn baby and plans to axe the Universal Social Charge (USC) for self-employed people are among the election pledges expected to be announced by Fine Gael on Sunday afternoon.

In the party’s general election manifesto, due to be unveiled by Taoiseach Simon Harris in Tipperary on Sunday, the party is expected to announce it plans to set up a saving account for every Irish baby born over the term of the next government.