Govt accused of hidden agenda over ISA changes

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A hidden agenda was behind the Government's decision to up the amount of cash that can be invested in ISAs, according to IFA service firm AWD Chase De Vere.

The company says while on the surface the change seems good news, the Government has also made it so investors can switch from cash into stocks, but not vice versa. Anna Bowes says the move “smacks of a ploy to actually reduce cash holdings in ISAs, as they have a vested interest in seeing this happen”. Further to Gordon Brown’s final Budget as Chancellor earlier in the year, last week the Economic Secretary to the Treasury, Kitty Ussher, laid down the regulations for the change to ISAs that will take effect from 6 April next year. The new regulations included allowing investors to put u...

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