Andrew Tully: Why cash ISA reform plans could do more harm than good

In the November Budget, the government announced its intention to reduce the cash ISA limit for under-65s to £12,000 from April 2027. That will also mean wider changes as the government is concerned people will try to work around this restriction by investing in cash via a stocks and shares ISA. The government's aim is to encourage more people to invest – specifically in UK assets – rather than holding large amounts in cash. Unfortunately, the outcome is likely to be the exact opposite of that policy intent, instead discouraging investment and damaging the ISA brand.   There are th...