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Ahead of the Autumn Budget tomorrow, a finance expert has warned that the decision to reduce the Cash ISA limit won’t have the desired effect Chancellor Rachel Reeves is hoping for.

The Chancellor will outline the second Labour Party government budget on Wednesday, November 26, and in it the Cash ISA tax-free allowance is expected to be slashed.

Currently, savers can put away £20,000 annually without fear it'll be hit by tax, but this could be brought way down to just £12,000.

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

Antonia Medlicott, Founder and Managing Director at financial education specialists Investing Insiders , explained why she doesn’t think the Cash ISA change will aid the Chancellor’s long-term plans of i

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