Savings bonanza - SSIA scheme a feather in McCreevy cap

FEW initiatives taken by a Finance Minister have impacted so dramatically on the fortunes of Irish people than the Government-backed Special Savings Incentive Accounts (SSIA) scheme introduced by Charlie McCreevy.

Much criticised by economists at the time, it has proved remarkably successful.

Ultimately expected to cost the State €2.65 billion, the scheme pays €1 for every €4 saved.