The Independent highlights the UK Treasury's controversial plans to reform cash ISAs, aiming to reduce the annual investment limit to steer savers towards equities. Although these changes were anticipated in Labour's upcoming Spring Statement, they are now expected to be revealed later in the year. Some economists advocate cutting the current £20,000 limit to £4,000. Chancellor Rachel Reeves has emphasized supporting personal savings while balancing the investment landscape between cash and equities, to promote a culture of retail investing in the UK.
"Controversial plans to reform cash ISAs have reportedly been green lit by the Treasury despite concerns voiced by savings providers, aiming to cut investment limits to encourage equities."
"Chancellor Rachel Reeves emphasized the need to assist people to save for their aspirations, aiming to shift the balance from cash ISAs to equities investment."
Collection
[
|
...
]