Rachel Reeves cut the Cash ISA allowance in today's budget

ISA Allowance Reform: The Chancellor, Rachel Reeves, announced a major reform to the Individual Savings Account (ISA) system during the Autumn Budget. This change aims to encourage a shift from pure cash savings into investments to boost the UK's low retail investment levels.

The New Cash Limit: While the overall ISA allowance will remain at £20,000 a year, the maximum amount that can be put into a Cash ISA will be cut to £12,000 annually.

Investment Mandate: The remaining£8,000 of the full £20,000 allowance will be designated exclusively for investment products, such as Stocks and Shares ISAs. This change is explicitly designed to push savers toward greater market participation, which the government has said will be benefici

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