IMA calls for increased ISA limits

A number of trade bodies have now made calls for the ISA limit to be reviewed and pressure is mounting on the Government to make substantial changes in this year's budget. IFA trade body, AIFA, made an appeal earlier this month while Skandia suggested it should rise to £9,000 to be in line with RPI increases since first introduced. According to the IMA, ISA sales in 2008 fell 15% on 2007, and since 2004, stocks and shares ISA have seen annual outflows. Richard Saunders, chief executive of IMA says: "In part, this can no doubt be explained by the performance of the stock market over th...