Individual Savings Accounts — Written Question

Question

Wendy Morton

Conservative — Aldridge-Brownhills

To ask the Chancellor of the Exchequer, whether she has made an estimate of the number and demographic profile of savers impacted by the reduction in the annual cash ISA allowance; and whether she plans to introduce alternative saving and investment incen

Answer

Lucy Rigby

ISAs incentivise saving and investment by providing generous tax advantages to individual taxpayers. Individuals can save up to £20,000 into an ISA each year, and any savings income received within an ISA is tax free. In addition, due to the Personal Savi...

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