Treasury abandons planned cash ISA allowance cut and retains £20,000 limit
Chancellor John Healey announced an unexpected reversal of plans to cut the annual tax-free cash savings allowance to £12,000, preserving access to the higher limit for individual savers.
Chancellor John Healey proudly presents an unchanged cash ISA mould marked £20,000 a year. A smaller proposed £12,000 mould lies discarded. Inside the larger mould, an ice sculpture of a pound sign melts beneath a blazing sun labelled Inflation, while a saver watches with weary scepticism.
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