The incoming chancellor has abandoned plans to cut the annual ISA allowance, reversing a decision by his predecessor that would have slashed the limit from £20,000 to £12,000. Instead, the move aims to boost investment in UK company shares by offering a more generous financial incentive. Financial experts have welcomed the decision, arguing it could help increase capital flowing into domestic businesses. The budget announcement marks a shift from austerity measures to a more investment-friendly approach.
Chancellor’s predecessor Rachel Reeves had planned to reduce allowance from £20,000 to £12,000 a year from April Business live – latest updatesWhat to expect from the budget: who wins, who pays?John Healey is to use his first budget to ditch plans to slash the annual cash Isa allowance, the Guardian understands, preferring a carrot rather than a stick to encourage people to invest more in shares.City experts welcomed news that the chancellor will overturn a decision by his predecessor, Rachel Reeves, to cut the allowance from £20,000 to £12,000 a year from April to get more money flowing into UK company stocks. Continue reading...
