Govt accused of hidden agenda over ISA changes

clock

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...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Investment

Image: The latest market news and analysis

Market Movers: UK producer price inflation falls as inflation eases

Producer price inflation fell to its lowest rate since March last month

Investment Week
clock 26 January 2023 • 1 min read
2023 looks to be a defining point for the industry

Asset managers prepare for staff reductions in challenging 2023

Compressed growth predicted with streamlined product offerings

Kathleen Gallagher
clock 25 January 2023 • 6 min read
Meet the panel for Sustainable Investment

Meet the expert panel sharing their perspectives on Sustainable-Investment.com

Connecting the sustainable investment community

clock 24 January 2023 • 3 min read