In what is being described by one stock broker as “another shot in the foot for the UK stock market,” the new Labour government has abandoned the proposal for a British Stocks & Shares ISA (BRISA), which was previously touted under the Conservative government earlier this year.
The Tory government had proposed to extend the current ISA allowance of £20,000 a year to £25,000. The extra £5,000 allowance was for UK-listed equities only. But with the British ISA now seemingly destined for the scrapheap, what will the new government do to improve the fortunes of the ailing British stock market?
“Effectiveness of BRISA was always in question”
Once a bustling hub of activity, the LSE now stands as a shadow of its former self. A ghost town where investors once thrived, but now tread cautiously. Yet Labour’s decision to abandon the British ISA is leaving the UK market to haemorrhage further. This may cause even the most…
