Reeves's Cash ISA Reforms 'Doomed to Fail', AJ Bell Chief Warns

New Rachel Reeves ISA warning as rules to ‘make things worse’

After changes in the Budget, the Treasury is said to be discussing more new rules.

ISA overhaul from Rachel Reeves defended by Labour as tax-free allowance to be cut

Labour Government ministers have reaffirmed their commitment

Reeves's cash ISA reforms 'doomed to fail', AJ Bell chief warns

Michael Summersgill, the CEO of Britain's third-biggest retail investing platform, accuses the chancellor of "failure to conduct even the most basic due diligence" on plans to cut cash ISA limits, Sky News learns.

AJ Bell boss: Rachel Reeves ISA reforms ‘doomed to fail’

The chief executive of a top investment firm has issued a scathing broadside against the Chancellor’s proposal to restrict cash ISA limits.  In a letter seen by Sky News, AJ Bell chief executive Michael Summersgill wrote to Rachel Reeves that efforts to push Brits towards investing with limits on cash savings are “doomed to fail”.  Under current government plans, the cash ISA allowance will be slashed from £20,000 to £12,000 next year.  The AJ B…