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Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
Sweeping reforms to Isas are in the chancellor’s crosshairs, with the Treasury expected to launch a consultation on the future of tax-free savings and investment accounts.
Yippee, said absolutely no one, apart from lobbyists at UK equity funds and investment platforms who have speared this debate. Getting their hands on some of the £300bn held in cash Isas would massively benefit their businesses — but Rachel Reeves must ensure the coming consultation focuses on what would actually benefit UK consumers.
Isas allow individuals to save or invest up to £20,000 a year tax free, split between cash and stocks in any way they choose. Industry proposals include dropping the cash element to £4,000 in the mistaken belief you can force people to invest, not to mention skewing tax breaks towards UK-listed stocks….
