UK considering cut on cash ISA tax free allowance – reports

Attempt to boost UK stock market

UK ministers are looking into cutting the £20,000 tax-free cash ISA allowance to boost London-listed stocks.

In a meeting with senior banking executives, the economic secretary to the Treasury Emma Reynolds discussed changing the ISA market and the tax-free allowance, but what the new cap will be has not been agreed, according to the FT. Quoting people familiar with the matter, they also said the City regarded this as a method of attracting money into equity funds and domestic shares. Pridham Report: Over half of UK fund groups report net sales growth in Q1 Rumours surrounding ISA reform have been becoming ever more frequent, with Reynolds stating in April that this was due before this ye...