Overview
- Reports indicate the annual cash ISA allowance could be cut from £20,000 to £10,000, though no decision has been confirmed.
- Briefings frame the potential change as a nudge toward stocks and shares ISAs to boost household investment in UK equities.
- City minister Lucy Rigby told an Investment Association event that long‑term stock market investing can outperform cash and said the government seeks a shareholding democracy.
- Personal finance expert Rajan Lakhani advises using available ISA allowances now and moving taxable savings into ISAs, while avoiding hasty reactions to speculation.
- HMRC reiterated that ISA contributions are currently capped at £20,000 a year and said it will contact savers after year‑end if they accidentally oversubscribe.