AJ Bell calls on Jeremy Hunt to introduce 'radical' ISA reform

Urges scrapping of British ISA

AJ Bell has called on Chancellor Jeremy Hunt to set out significant reforms to the Individual Savings Account (ISA) system.

The platform argued that, after snubbing any changes in his Autumn Statement, Hunt should consider a "radical, long-term simplification" of ISAs in his upcoming Spring Budget on 6 March. According to AJ Bell, some of the reforms should include the supercharging of the Lifetime ISA by reducing the early withdrawal charge from 25% to 20%, as well as increasing the minimum property price, in light of rising house prices, especially in London. The ISA allowance should also be increased from the current £20,000, AJ Bell argued, suggesting the introduction of a mechanism linking the thresho...