Quilter calls for simplification as Labour backs GB ISA proposals

‘Drastic improvement’

Cristian Angeloni
clock • 2 min read

The Labour Party has revealed it will push ahead with the current government's plans to introduce a Great British ISA (GB ISA).

According to a report by City AM today (28 May), a spokesperson for the party said it has no plans to drop the GB ISA, as Labour focuses on getting people to save and invest, with the different types of ISAs a key area. Rachel Griffin, tax and financial planning expert at Quilter, said this gives Labour the opportunity to "drastically improve" the Conservatives' GB ISA plans introduced in the 2024 Spring Budget. The proposals, which are under consultation until 6 June, set out that the GB ISA will provide an additional tax-free £5,000 to the current annual ISA allowance of £20,000, to...

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