Industry divided on value of Junior ISAs

Transact's Malcolm Murray gives his thumbs-up to the junior versions of the tax-free savings accounts, as unveiled by the government yesterday. He thinks the new ISAs - an attempt to fill the void created by the abolition of child trust funds - will encourage a culture of saving amongst the young and expects all platforms to offer the new tax wrappers. "I think it is a great idea - anything that encourages a sense of saving has to be applauded and this is precisely what is needed to encourage long term saving." He thinks Junior ISAs will appeal to grandparents especially, who will ...