US EditionReeves backs down on plans to cut Isa limit
- Chancellor Rachel Reeves announced on BBC that she will not reduce the £20,000 annual tax-free ISA allowance amid backlash from banks and the City.
- The decision follows earlier proposals to lower the cash ISA limit to £4,000 to encourage more investment in stocks and shares, which faced strong opposition from building societies and financial groups.
- Reeves emphasized preserving the £20,000 allowance because few people save that amount annually and wants to promote better returns through pensions and investments beyond cash or bonds.
- City figures like Bestinvest’s Jason Hollands advocate for increased investing via education, regulatory support, and incentives, while warning a mandated overseas investment limit may harm savers’ flexibility.
- The government plans a broader ISA reform review ahead of the Autumn Budget to support an investment culture without cutting the current £20,000 ISA limit.
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Salisbury JournalReposted by 
hampshirechronicle.co.uk
hampshirechronicle.co.ukRachel Reeves confirms there are no cuts to £20,000 ISA allowance planned
Rachel Reeves has ended speculation following Martin Lewis's post about rumoured changes to the £20,000 cash ISA annual limit.
·Salisbury, United Kingdom
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