Overview

• The UK government is preparing to release a Treasury discussion paper on ISA reforms, likely within weeks, to gather input on potential changes.
• Chancellor Rachel Reeves may outline reform plans during her Mansion House speech in July, though no formal changes have been announced yet.
• Speculation continues over a possible reduction of the annual cash ISA limit from £20,000 to £4,000 to encourage retail investment in equities.
• Financial experts, including Martin Lewis, advise savers to maximize current cash ISA allowances as any changes would not affect existing balances.
• Building societies warn that cutting cash ISA limits could impact mortgage funding, as over 18 million savers currently hold approximately £300 billion in these accounts.