Chancellor John Healey has abandoned ‘car crash’ plans to cut the cash Isa allowance for under-65s in a major victory for the Daily Mail and This is Money.
The amount that can be funnelled into a tax-free cash Isa every year will now stay at £20,000 instead of being slashed to £12,000 from April for savers under the age of 65.
Savers who do not want to risk their cash on the stock market could breathe a sigh of relief as Rachel Reeves’ ill-thought-out plans were scrapped.
We had campaigned for a reversal to the planned cut since it was announced last autumn
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