Why you might not need to worry about a reduced cash ISA allowance

A cut to the cash ISA limit may dismay risk-averse savers, but it’s not necessarily the end of the world

Bearded man putting a coin into a piggy bank
(Image credit: Halfpoint Images via Getty Images)

Cash ISAs have been in the headlines for all the wrong reasons in the past few months after it emerged that chancellor Rachel Reeves was being lobbied to reduce the annual cash ISA allowance to £4,000.

The Treasury has since confirmed that they are looking into cash ISA reform, with Reeves saying she is trying to “get the balance right between cash and equities to earn better returns for savers, boost the culture of retail investment, and support the growth mission”.

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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.