Chancellor Rachel Reeves slashed the annual limit for cash ISAs. But this isn’t their death knell – they still have a very valuable place as part of a diversified portfolio.

It’s all change for ISA limits

For many savers, the cash ISA has been a huge success story. It’s given them a lower-risk, tax-free way of looking after their money. Close to £700 billion has been paid into adult cash ISA since 2008/09.

But has this come at the expense of investing and growing their wealth? The Chancellor clearly believes so. In her budget speech last week, Reeves highlighted that someone who invested £1,000 in a stocks and shares ISA every year since they were introduced in 1999 would now be £50,000 richer than if they’d opted for cash.

“The UK has some of the lowest levels of retail investment in

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