Chancellor Rachel Reeves' attempts to deliver what her predecessor could not and widen the investor base for long-term asset funds (LTAFs) may prove irrelevant if retail platforms continue to reject the agenda.
In her second Mansion House speech as chancellor, Reeves made her first ISA reforms since Labour came into power just over a year ago. Rather than delivering the widely circulated rumours of a cut on the Cash ISA limit, Reeves took an unexpected route to try and open private markets up to retail investors by allowing LTAFs to be included in the Stocks & Shares ISA. In her speech, she said she could "continue to consider further changes to ISAs in the coming months" but allowing LTAFs to be more accessible to retail investors will "allow them to benefit from this innovative product". ...
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