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

The chancellor has delayed plans to cut the cash ISA limit, but the reform is still reportedly on the table. 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)

Plans to reduce the annual cash ISA allowance are seemingly on ice for now, but reforms could still be on the way over the longer term.

The chancellor was expected to announce that the proportion of your £20,000 ISA limit that you can save into a cash ISA will be cut, possibly to as little as £5,000, at her Mansion House speech on 15 July, but reports now suggest she has delayed the cut.

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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