Budget 2010: Shaughnessy says Chancellor has listened to savers

Gary Shaughnessy, UK managing director of Fidelity International, responds to today's Budget.

"The Chancellor showed that he has listened to messages on the importance of long-term saving by maintaining the tax-free allowance for CGT and the rate for basic rate taxpayers at 18%. This announcement is good news for average long-term savers who would have been caught in the CGT net for relatively small gains if the allowance had been lowered or the rate increased. Maintaining simplicity from here will be essential in encouraging long-term savings. This Budget reinforces the importance of ISAs which provide investors with a tax-free way of saving. Investors who fail to make use of...