Cash ISA threat still remains: with ISA reforms on the horizon, will savers lose out?

Cash ISAs are safe for now from any cuts, but the push for investing in stocks and shares is almost certainly coming and could be announced in the Autumn Budget, says Kalpana Fitzpatrick

Phone with gold coins
(Image credit: Getty Images)

While the cut to cash ISAs was widely rumoured to be cut to just £4,000 in the Spring Statement, the chancellor’s focus was more immediate savings to help her achieve a £9.9 billion headroom by 2029/30.

In what appeared to be a wave of desperate measures with a number of welfare cuts, Reeves used the Spring Statement to tighten the government’s purse strings to tackle a flattening economy after the Office for Budget Responsibility (OBR) halved its forecast for growth this year, down to 1% from the 2% forecast in October's Budget.

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Kalpana Fitzpatrick

Kalpana is an award-winning journalist with extensive experience in financial journalism. She is also the author of Invest Now: The Simple Guide to Boosting Your Finances (Heligo) and children's money book Get to Know Money (DK Books).

Her work includes writing for a number of media outlets, from national papers, magazines to books.

She has written for national papers and well-known women’s lifestyle and luxury titles. She was finance editor for Cosmopolitan, Good Housekeeping, Red and Prima.

She started her career at the Financial Times group, covering pensions and investments.

As a money expert, Kalpana is a regular guest on TV and radio – appearances include BBC One’s Morning Live, ITV’s Eat Well, Save Well, Sky News and more. She was also the resident money expert for the BBC Money 101 podcast .

Kalpana writes a monthly money column for Ideal Home and a weekly one for Woman magazine, alongside a monthly 'Ask Kalpana' column for Woman magazine.

Kalpana also often speaks at events. She is passionate about helping people be better with their money; her particular passion is to educate more people about getting started with investing the right way and promoting financial education.