Investment industry professionals argued that the success of a new 'Starter ISA' will rely on the removal of a number of barriers to entice first-time investors to move away from saving.
Chancellor John Healey revealed the government was considering a 'Starter ISA' in his maiden Budget on Wednesday (28 October) but was light on the details. While Healey reversed his predecessor's act to lower the Cash ISA tax-free annual allowance, keeping the limit at £20,000 "for all ages", he also mentioned a product to make investment "more accessible to reward first-time investors". Isabella Galliers-Pratt, senior investment director at Rathbones, said the success of this would "ultimately depend on its simplicity". "It should provide a clear incentive for first-time investors...
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