Unlock the Editor’s Digest for free
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
Rachel Reeves is preparing to launch a review of the Isa market within weeks in a push to encourage savers to channel more money from tax-free cash into British stocks, according to people familiar with the plans.
The Treasury will begin a consultation to gain views across the City of London on how to reform the UK’s Isa regime, industry figures said, as the chancellor seeks to bolster what she calls “a culture in the UK of retail investing”.
The move could pave the way for one of the biggest shake-ups of the Isa market since its creation in 1999, following calls from some large City firms to cap the amount that can be held tax-free in cash.
The UK has four main Isa products, including the cash Isa, which is by far the most popular product, housing £300bn of savings at present. Isas allow individuals to…
