When the British ISA was announced by Jeremy Hunt at the recent budget it was met with mixed reviews.
Some liked the idea of encouraging more investment in UK stocks, while others lambasted the proposal as illogical and unlikely to succeed.
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The move was part of the government’s efforts to rejuvenate the UK’s financial markets, alongside other initiatives such as the sale of NatWest shares. The NatWest share sale has been canned ahead of the general election and now the future of the British ISA hangs in balance.
Many within the industry think the British ISA is a nonstarter. Here are Eight reasons why AJ Bell’s director of public policy, Tom Selby, thinks it’s a bad idea, in his own words:Â
- Additional complexity risks deterring potential new ISA investors
“The extra complexity created by any British ISA will inevitably cause confusion, particularly among potential new…
