Advice firms cast doubt over government cash ISA reforms

The second iteration of PIMFA's Regulatory Insights Tracker surveying 56 of its member firms has found that, as investors adapt to reforms announced in the Autumn Budget 2025, the decision to cut the cash ISA allowance remains a key source of contention. When asked which Budget announcement would have the greatest impact on retail investor behaviour, cuts to the cash ISA allowance were cited most frequently (36%). Despite this, only 7% of firms believe the move will encourage savers to become investors, suggesting that the policy alone is unlikely to drive a meaningful shift in behavi...