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Martin Lewis has said that 'it's the wrong solution to a real problem' as the Government looks set to make a major change to people's savings at the Budget on Wednesday. It seems almost certain that Rachel Reeves will announce a £8,000 cut to the cash ISA savings limit on Wednesday.

Cash ISAs are a type of savings account where the interest earned is exempt from income tax up to the first £20,000. However, there have been strong rumours that Ms Reeves will cut this to £12,000 - or maybe even £10,000 - meaning more people will be pushed into paying tax on their savings.

It comes after it was reported that Ms Reeves was going to leave the cash ISA limit alone following significant backlash. Banks said cutting the limit would be a rushed decision and "all stick and no carr

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