Investment experts fear a further week of stock market turbulence will spell ruin for the 2006-07 equity Isa season by causing retail investors to run scared from the tax shelters, reports the Times .
Last week’s global financial shock is expected to continue reverberating this week, which experts believe will convince savers to use their spare cash to pay off debts rather than putting it into an Isa invested in a shaky stock market. Last year Britons invested £2.5bn in ISAs, including cash Isas, says the paper. Justin Modray, an investment adviser at Bestinvest, said: “If last week was the extent of the jitters, it won’t have any meaningful impact but if it continues this week, it could cause investors to doubt markets and postpone moving in or not do an Isa this year at all.” Modr...
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