Abandon planned cuts to the annual Cash ISA subscription limit

Background

Abandon planned reduction of the Cash ISA annual subscription limit from £20,000 to £12,000 and associated measures. We believe these changes add complexity, reduce ISA clarity, and do little to improve financial education or encourage informed investing.

Additional details

The Government plans to reduce the Cash ISA annual subscription limit from £20k to £12k and introduce further restrictions such as taxing interest in Stocks & Shares ISAs. We believe these changes add unnecessary complexity to an already poorly understood system, increasing admin burdens for savers and providers. With average Cash ISA subscriptions around £7,000, the reforms affect relatively few people and in our view do little to improve financial education, encourage investing, or create noteworthy revenue.

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