Healey to drop planned cut to cash Isa allowance, Guardian reports
Chancellor John Healey will reportedly scrap Rachel Reeves's plan to lower the cash Isa limit to £12,000, according to the Guardian.
Chancellor John Healey will use his first budget to drop a plan to cut the cash Isa allowance, the Guardian reports. The paper says it understands this is the plan. It did not name a source.
His predecessor, Rachel Reeves, had planned to lower the yearly limit to £12,000 from £20,000, starting in April. The aim was to push more money into UK company shares.
The Guardian says Healey prefers to encourage investment in shares with incentives rather than by restricting cash savings. It reports that City experts welcomed the change.
BBC News reports that Healey opened his Autumn Budget speech with a tribute to Reeves. The BBC's short report does not say what he said about Isas.
Reported by
- The GuardianHealey poised to overturn cut to cash Isa allowance in first budgetWed, Oct 28, 5:55 AM EDT
- BBC NewsJohn Healey pays homage to predecessor Rachel ReevesWed, Oct 28, 8:57 AM EDT
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