Research from Rathbones Group indicates that 61% of retail investors oppose any changes to cash ISAs. Currently, individuals have a £20,000 annual allowance in ISAs, with a significant portion allocated to cash ISAs—£41.627 billion in the 22/23 tax year compared to £28.012 billion in stocks. While the UK government is exploring reforms aimed at encouraging greater investment in equities, only 19% of investors believe such changes would inspire them to invest more in stocks, revealing considerable skepticism about the proposed adjustments.
The Government is looking at options for reforms to Individual Savings Accounts that get the balance right between cash and equities to earn better returns for savers.
61% of retail investors do not want to see changes to ISA rules, highlighting a strong preference for maintaining current cash ISA access.
Just under one in five retail investors would invest more in the stock market as a result of changes to cash ISA rules, indicating skepticism about the proposed reforms.
Industry experts have suggested reforms such as halving the cash ISA allowance, reflecting a growing debate on the balance between cash and stocks in ISAs.
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