Brokers and building societies have locked heads over cash ISAs

Top brokers and building societies have locked horns over whether the Chancellor should follow through with rumoured plans to slash the cash ISA limit.

London-based trading platform IG is pushing for Chancellor Rachel Reeves to act on rumours to slash the cash ISA allowance to £10,000, after analysis found it could provide a £7.2bn boost for cash ISA holders who choose to invest their excess funds.

The Treasury is working to encourage retail investment in order to boost economic growth, including plans to roll out a “targeted support” scheme before the 2026 ISA season, and rumours of a stamp duty cut on shares to 0.5 per cent.

But plans to overhaul the ISA regime have dominated speculation , with the cash ISA ceiling,

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