THE GREEN PARTY has warned that Tánaiste Simon Harris’s proposed State-backed investment account could leave people paying tax even if their investments lose money, as it unveiled an alternative savings scheme it says would be fairer for consumers. Green Party finance spokesperson and councillor Michael Pidgeon said the approach carried “real risks” for Irish savers. “Simon Harris has fallen for a Swedish model, and like most people who do, he hasn’t thought it through,” Pidgeon said. Under the Green Party proposal, no tax would apply while money remains invested in the account. The government has not yet published the final design of its proposed personal investment account, with legislation expected next year and accounts due to become available next year.