Two thirds of ISA savers would not use shares ISA

Plans to slash the cash ISA allowance may backfire as little appetite to transfer funds to a stocks and shares options as risk too high

With the Budget finally just a fortnight away, concerns are growing about the chancellor  halving the current £20,000 tax free cash ISA threshold, in a bid to persuade savers to invest in the stock market instead, part of her hopes to stimulate some growth in the flat economy.

Months ago the Treasury confirmed to Business & Accountancy Daily that officials had been tasked by the chancellor Rachel Reeves to review the whole ISA landscape, with the likelihood of shifting the allowances around to deter people from just parking their money in safe savings pots, and a minister had been put in charge of the work.

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