Rachel Reeves' Spring Statement: will Labour end cash ISAs?

Name: Rachel Reeves' Spring Statement: will Labour end cash ISAs? | Humix Video
Uploaded: 2025-03-29T03:46:33+00:00
Duration: 2 min 18 s

0:00
are cash is going to be scrapped later
0:02
this year that's what some in the city
0:03
are calling for with the investment
0:05
industry asking the government to give
0:07
the ISIS system a thorough spring clean
0:09
earlier this week Chancellor Rachel
0:11
Reeves announced as part of the
0:12
government's spring statement that it
0:14
was looking at options to reform ISIS
0:16
with a focus on pushing a culture of
0:18
retail investment in the UK while no
0:20
further details were given on what
0:22
reforms will be considered rumors have
0:24
been swirling around the city for weeks
0:26
that Reeves have been in talks to cut
0:27
the limit on annual deposits into a cash
0:30
iser from £20,000 to just £4,000 this
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was meant to push savers to instead use
0:36
a stocks and shares Iser which generally
0:38
has higher returns than the cash iser
0:40
and would allow billions to be pumped
0:42
into investing across British companies
0:44
while Reeves ultimately chose not to
0:46
pursue the plan in the spring statement
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it hasn't been taken off the table
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either experts that city spoke to expect
0:52
any changes to ISIS to be announced in
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this year's autumn budget while some in
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the city were initially supportive of
0:58
the rumored cut to the cash ISA limit
1:00
most analysts are now saying the plans
1:01
don't go far enough speaking to Moneybox
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head of personal finance Brian Burns
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said that in his experience of over a
1:08
decade working as a financial adviser
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reducing the limit would not make one
1:12
person more confident to invest instead
1:15
he argued that the government should be
1:16
focusing much more on financial
1:18
education building up confidence for
1:20
Brits to put their money in the stock
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market many in the investment industry
1:23
are also calling for cash stocks and
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shares junior and the innovative finance
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isers to all be rolled into a single
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product investment giants like AJ Bell
1:32
and Fidelity International have backed
1:34
the plans arguing it would simplify the
1:36
financial product and push people to
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invest especially as twice as many
1:40
people currently use a cash ISER over a
1:42
stocks and shares Iser wander Rutgers UK
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CEO of the investment platform Lightyear
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told City AM that a single flexible ISER
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with one rapper strips out the needless
1:53
complexity giving investors real freedom
1:55
to manage their savings and investments
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on their own terms ultimately we don't
2:00
know what the government will decide to
2:01
do with ISIS but make sure to subscribe
2:03
to City AM to hear about any updates of
2:04
the process over the next six months and
2:07
let us know in the comments what would
2:08
you like to change in the ISIS system
2:15
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Rachel Reeves' Spring Statement: will Labour end cash ISAs?

cityam.com