Josh Hall said he has “less motivation to save” after hearing the news that the cash ISA allowance will be cut from £20,000 to £12,000 for those under 65.

The 20-year-old from Derbyshire has already managed to put away around £28,000, spread across four cash ISAs with the Nottingham Building Society.

He is hoping to save enough for a house deposit and for retirement , but he is “worried” about the impact of the changes announced by the Chancellor in Wednesday’s Budget. New Feature

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Speaking to The i Paper , he said: “The change does worry me, as the Government is removing choice and trying to force people into stocks and shares, which I don’t consider a viable option for me.

“I need a reliable, low-risk way of saving money that

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