Premier Miton calls on Treasury to limit cash ISA tax benefit to £5000 and drive focus on UK assets in Spring Forecast

Cash ISA reforms

Premier Miton has called on the government to address the current ISA structure in the UK to “deliver a significant boost to economic growth, to employment and the tax revenues”.

In a letter to Chancellor Rachel Reeves and City minister Emma Reynolds, the £11bn asset manager said it shares the latter's view that holding onto cash savings means investors are missing out on significant potential returns on their capital.  Reeves not expected to make changes to Cash ISAs in Spring Forecast – reports The asset manager made two suggestions to the Treasury, the first being a limit the future tax benefit of Cash ISAs to £5000. This would "significantly reduce the almost £300bn allocation to cash within ISAs and immediately increase future investment savings into e...