Junior ISA limit to be set at £3,000

The allowance for the ISAs, designed to partially fill the gap left by the axed Child Trust Funds (CTFs), can be invested in stocks and shares or a cash deposit, although any investments are locked until the child is 18. Available from 1 November, they will be sold by high street banks, building societies, investment companies and friendly societies already selling Isas and the government expects 800,000 children a year to benefit from them, the Guardian reports. Six million children who missed out on CTFs because they were born before the scheme was launched or after it was axed coul...