Abandon planned cuts to the annual Cash ISA subscription limit

The Government plans to reduce the Cash ISA annual subscription limit from £20k to £12k and introduce further restrictions such as taxing interest in Stocks & Shares ISAs. We believe these changes add unnecessary complexity to an already poorly understood system, increasing admin burdens for savers and providers. With average Cash ISA subscriptions around £7,000, the reforms affect relatively few people and in our view do little to improve financial education, encourage investing, or create noteworthy revenue.