Reeves set to slash £20,000 Cash ISA allowance – reports

First reported by the FT, it is expected that Reeves will make the allowance cut announcement in July, with the aim to push forward British investment. This comes after Reeves and the Labour government set out to investigate ISA reform options in the Spring Statement to tackle what has been described as Cash ISA "hoarding", which results in savers missing out on potentially higher returns from Stocks and Shares ISAs. Treasury documents released after the Spring Statement stated the planned ISA reforms should "strike the right balance" between cash and equities to earn "better returns ...