Jeremy Hunt confirmed much trailed plans for a British ISA in the budget on Wednesday in a bid to get cash flowing into London’s beleaguered stock market.
The move will look to incentivise investment into UK equities by offering tax breaks to retail punters after a slide in the overall amount of cash flowing into the market in recent years.
The new British ISA, which will be launched following a three-month consultation, allows savers to invest an extra £5,000 tax-free in UK equities, on top of the £20,000 ISA allowance.
While this was a key campaign issue for some in the finance industry, with Chancellor Jeremy Hunt citing calls from “over 200 representatives of the City and our high growth sectors”…
