Will Rachel Reeves impose a £5,000 cash ISA limit?

The chancellor will reportedly lay out plans to reduce the amount of money you can put into a cash ISA this month. We look at why, and what it could mean for your savings.

Rachel Reeves smiling
Rachel Reeves has been told by lobbyists to consider imposing a £4,000 cash ISA limit
(Image credit: Christopher Furlong via Getty Images)

Rachel Reeves seems set to reduce the amount of money that you can put into cash ISAs, in a blow for savers using the tax wrapper.

The chancellor is expected to announce that the proportion of your £20,000 ISA limit that you can save in cash will be cut, with some City figures suggesting this could be as low as £5,000.

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Daniel is a digital journalist at Moneyweek and enjoys writing about personal finance, economics, and politics. He previously worked at The Economist in their Audience team.

Daniel studied History at Emmanuel College, Cambridge and specialised in the history of political thought. In his free time, he likes reading, listening to music, and cooking overambitious meals.

With contributions from