Government stands by ISA reforms in response to Treasury Committee report

Chancellor Rachel Reeves announced changes to the cash ISA in the Autumn Budget. Reeves' reforms included reducing the tax-free allowance to £12,000 for people aged under 65. This change will come into effect on 6 April 2027.  Reeves' move came despite an October Treasury Committee report, in which MPs urged the government not to cut the cash ISA limit in the hope of persuading people to put more into stocks and shares. "The focus should be on improving financial literacy and enhancing access to good advice and guidance so that people can make informed decisions with their savings," t...