Tag: UK savings

Rachel Reeves Pauses Cash ISA Allowance Cut After Lender Outcry

Rachel Reeves Pauses Cash ISA Allowance Cut After Lender Outcry

Chancellor Rachel Reeves has delayed cutting the annual cash ISA allowance from £20,000 after banks and building societies pushed back. The government was considering a reduction to as low as £5,000 to encourage more investment, but concerns over customer impact and inflation risks put changes on hold for now.