Cash ISA allowance cut risks hardening saver/investor divide, advisers warn

Earlier this month, AJ Bell CEO Michael Summersgill cautioned that the reduction, first  announced in the November 2025 Budget, would "harden the border" between short-term saving and long-term investing, while additional anti-avoidance rules could inadvertently undermine the tax-free status of stocks and shares ISAs. While the rules and legislation have not yet been finalised, the reforms have reignited debate around the role of cash ISAs within the broader savings and investment ecosystem, and whether restricting them would genuinely encourage more people to invest. Advisers respond...