View Image

Tomorrow, Wednesday, November 26, Chancellor Rachel Reeves will outline the Autumn Budget for another financial year.

This second Labour Party government budget has been the source of much speculation and rumour over what the Chancellor could announce, with cash ISAs once again being targeted.

Currently, the tax-free allowance stands at £20,000 annually, but reports suggest the Chancellor could slash this to £12,000, or as low as £10,000.

READ MORE: UK households can switch to 26 fixed-rate deals cheaper than the current price cap

Reducing the cash ISA limit to £12,000 would be a setback for borrowers and the wider property market, as well as potentially lead to higher mortgage rates, experts warn.

Tim Bowen, CEO at Wilmslow-based Mutual Vision and former CEO of Penri

See Full Page