Cash ISAs Rule Changes
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Cash ISAiNews (Indonesia)
•World
World
Cash ISA changes to be revealed by Rachel Reeves within weeks
72% Informative
Changes to rules for Cash ISAs look set to be announced within weeks as Chancellor prepares to unveil plans to reform financial services to boost growth.
Rachel Reeves last month confirmed she is considering putting new curbs on cash ISAs to try to encourage savers to invest their money elsewhere, such as the stock market.
The Treasury said it would not pre-empt any announcement but confirmed all aspects of the savings policy are being kept under review.
With more people investing, a buoyant stock market will boost confidence, helping to build growth key to Labour ’s plans.
Not everyone understands or feels confident in investing, and people could lose money without realising.
Many people prefer to keep their money in cash ISAs as they view it as safer and it is easier to withdraw funds.
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