Budget: Cash and shares ISA 'a waste of time'

The comment follows Chancellor Alistair Darling’s plans to increase annual ISA allowances to £7,200, of which savers can invest up to £3,600 in cash. The Government revealed the rise in the 2007 Budget and received a backlash from providers in last October’s Pre-Budget Report for not further encouraging savings by raising the allowance. Adrian Shandley, managing director of Premier Wealth Management, says many investors feel Darling should have increased the limits to encourage more savings. He says: “The 20% increase in a cash ISA is handy, but a cash and shares ISA is a waste of time. ...