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Rachel Reeves Set to Cut Cash Isa Allowance
- Chancellor Rachel Reeves is expected to reveal a reduction in the annual limit for cash ISAs during her speech at Mansion House on July 15, 2025.
- This move aims to shift some of the £300 billion cash held in ISAs into UK investments as part of efforts to boost domestic growth, though details remain uncertain.
- Martin Lewis and experts say the cut, possibly to as low as £4,000, may frustrate savers since cash ISAs serve different needs than investment ISAs and the change may not increase investing.
- Currently, the £20,000 ISA allowance covers Cash and Stocks & Shares ISAs combined and is tax-free, with Chris Henderson noting funds held in UK-regulated accounts are protected up to £85,000.
- The announcement could only affect future ISA limits, with savers urged to act soon, while the government seeks to encourage saving without reducing the overall ISA allowance.
53 Articles
53 Articles
Reeves To Send Mortgage Costs Soaring After Cash ISA Raid
Rachel Reeves has been talking about ‘reforming’ cash ISAs for a while to “encourage investment” in the dying London Stock Exchange. She’s now set to slash the allowance from £20,000 down to as low as £5,000 in her Mansion House speech on 15 July.[…] Read the rest
Any cut to cash Isa allowance ‘may not prompt savers to boost their investments’
There has been speculation that plans to reduce the annual tax-free cash Isa allowance could be announced later this month. Savers could end up having less money to put into stocks and shares if the cash Isa limit is cut, a finance expert has said. The comments follow speculation that plans to cut the annual tax-free cash Isa allowance could be announced in Chancellor Rachel Reeves’s Mansion House speech on July 15. The Government is looking at …
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