The number of people planning to forego the opportunity to take out an Isa in the 2002/3 tax ye...
The number of people planning to forego the opportunity to take out an Isa in the 2002/3 tax year rose in February, according to research from the AITC.
The AITC survey taken 21-23 March found 63% were not planning to invest in an Isa before 5 April, up from 51% in a survey taken 17-19 January. Of these, some 31% had no excess cash or savings to put into an Isa.
Some 32% of those questioned for the survey had put their excess cash into either a bank or building society, while 12% had spent the money on home improvements.
Despite the uncertainty among investors, more than 70% did not intend to consult a financial adviser to help make their financial decisions, the survey found.
Nearly 18% believed the FTSE 100 would head below 3,000 points in the next six months, with only 13% of those surveyed believing it would rise to in excess of 4,000.
The majority of respondents felt the FTSE would probably remain somewhere between these two levels over the next six months.
The survey found three out of four investors were maintaining a cautious stance by neither increasing nor decreasing their investment exposure to the stock market. The chief reasons cited were economic instability and the conflict in Iraq.
The AITC surveyed 2,000 adults based in the UK.
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