Advisers Not Convinced on Potential Plans to Cut Cash Isa Limit
Cutting the Cash Isa allowance is a "terrible way" to encourage good financial habits, according to Antonia Medlicott, founder of Investing Insiders.
Cutting the Cash Isa allowance is a "terrible way" at encouraging good financial habits.
Reports suggest that chancellor Reeves is considering reducing the Cash Isa allowance from £20,000 to £10,000. Last year, there were rumors of a potential reduction to £5,000, but this did not occur.
- Current Cash Isa allowance: £20,000
- Potential new limit: £10,000
- Previously considered limit: £5,000
A decision has not been made, with Reeves' team stating that "a number of options are on the table".
Author's summary: Advisers oppose cutting Cash Isa limits.
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