ISA reform 'under review' after absence in Budget and Mansion House

Financial Services Agenda pledge

A reform of the Individual Savings Account (ISA) system is currently “under review” by the Treasury, as part of its broader examination of all UK savings policies.

Although there was no mention of ISAs in Chancellor Rachel Reeves' first Budget last month, nor in her maiden Mansion House speech last week, Labour had promised to increase retail participation in capital markets in its campaign commitments.  The only move related to ISAs, which was also confirmed in the Autumn Budget in October, was the scrapping of the Great British ISA, unveiled by former chancellor Jeremy Hunt earlier this year. Under the new Labour government, the Treasury said it would not go ahead with the GB ISA plans despite having sought industry feedback on the matter.  ...