Cash ISA Reform Consideration
Chancellor Rachel Reeves is considering slashing the cash ISA allowance in the Autumn Budget.
A potential change could be a reduction of the annual cash ISA allowance from £20,000 to £10,000, as reported by the Financial Times.
The proposed reform aims to incentivise savers to invest in the stock market, which could help boost economic growth and provide better returns for savers.
The government argues that investing in the stock market would help boost economic growth while also providing better returns for savers.
Possible announcements regarding the cash ISA limit could be made as soon as the Autumn Budget.
Author's summary: Chancellor considers cutting cash ISA allowance.