As warnings about an impending stock market 'correction' swell, Rachel Reeves once again flies a kite about halving Cash ISA's allowance, to 'encourage' savers to move funds into the stock market...
As the saying goes, 'every market requires a fool' when people want to cash out & Reeves is setting up the public to buy the shares investors want to shed in light of the likely stock market turmoil.
She is not on our side, she's in the pocket of the investment bankers!
@ChrisMayLA6
The cash ISA limit is £20,000 per year, and has been for some time.
Unpopular opinion: if you can afford to put that kind of money in the bank every year, you can afford to pay a wee bit tax on some of it.
ah yes, but many put in a lump sum (say from redundancy) & do not put money in each year.... but, really the issue is encouraging those with such lump sums into riskier 'investments' to gain some tax relief, while the rich gain all sorts of tax relief on *their* 'investments'....
yes, now that *would* be an interesting approach.....
Emeritus Prof Christopher May
pawkypaul