hancellor Rachel Reeves has ruled out cutting the £20,000 annual cash ISA limit, dismissing speculation that it could be reduced to encourage more investment in equities.
Speaking to the BBC, Reeves said she wants savers to see better returns but remains committed to preserving the current tax-free allowance.
While the limit stays, ISA reforms are still expected, with changes likely to be announced in the Autumn Budget or July’s Mansion House speech. Reeves had previously signalled a shift towards promoting equity investments to improve returns and support economic growth.
Despite earlier rumours of a sharp cut—potentially to £4,000—Reeves resisted pressure from some policymakers and City voices. Bank leaders, including those from HSBC and Lloyds, recently warned that lowering the limit would do little to boost investment or growth.
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