Overview

• Reports indicate ministers are considering halving the annual cash ISA limit from £20,000 to £10,000 to nudge saving into UK equities.
• Treasury officials have recently met financial firms to discuss options for restricting cash ISA contributions.
• Reeves’ team says multiple approaches remain under review, while the Treasury says it will protect cash savings.
• Building societies caution that lower cash ISA inflows could strain mortgage funding and increase borrowing costs.
• Officials are also weighing a revival of a “Brit ISA” concept that would add a separate allowance for UK shares.