Cash ISA allowance cut could deliver ‘£7billion boost’ to savers

Cash ISA allowance cut could deliver ‘£7billion boost’ to savers

Currently, savers can put up to £20,000 a year into an ISA without paying tax on interest.

Swansea Building Society urges Chancellor to protect £20,000 Cash ISA limit

Local society adds voice to national campaign With the Chancellor preparing to deliver the Autumn Budget later this month, Swansea Building Society has backed the Building Societies Association (BSA) in urging the Government not to reduce the annual Cash ISA subscription limit. Under current rules, savers can deposit up to £20,000 a year tax‑free. But speculation has grown that the Chancellor could lower the limit as part of wider reforms to the…

Reaction, Wesleyan - government considers smaller-than-planned Cash ISA cut

Brokers and building societies clash over cash ISA cut

The Treasury is working to encourage retail investment in order to boost economic growth, including plans to roll out a "targeted support" scheme before the 2026 ISA season, and rumours of a stamp duty cut on shares to 0.5%

Brokers and building societies butt heads over cash ISA cut

Top brokers and building societies have locked horns over whether the Chancellor should follow through with rumoured plans to slash the cash ISA limit. London-based trading platform IG is pushing for Chancellor Rachel Reeves to act on rumours to slash the cash ISA allowance to £10,000, after analysis found it could provide a £7.2bn boost for cash ISA holders who choose to invest their excess funds. The Treasury is working to encourage retail inv…