Fidelity calls for ISAs to be tax-free

The fund house says making ISAs completely tax-free is the only viable way of encouraging more people to save and is calling on Chancellor Alistair Darling - who publishes his Pre-Budget Report next week - to make the change. Fidelity's call to action follows research suggesting a huge 95% of the population do not fully understand the advantages of ISAs. Changes to the product's tax-efficiency have added unnecessary layers of complexity to the ISA, says Fidelity, which has detracted from its popularity. "Would-be savers are being put off by the perceived complexity of the once simp...