Rachel Reeves addressed parliament yesterday for her Spring Statement, and the Chip team tuned in to hear whether any changes to ISA limits were on the agenda.

We’ll keep this super short as there was nothing in the speech that directly addressed any changes to ISAs going forward, but we found some detail in the full statement document that hinted at possible reforms going forward.

To quote:

“The government is looking at options for reforms to Individual Savings Accounts that 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. Alongside this, the government is working closely with the Financial Conduct Authority to deliver a system of targeted support to give people the confidence to invest.”

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Key takeaways:

No Immediate ISA Changes: Despite speculation, there were no changes to Cash ISA limits.

Encouraging Investment: The government is still keen to dial up stock market investment that could earn better returns for savers.

There is a lot more in the statement to digest around how the Spring Statement could affect you or your finances. For more information around this you can find more here.

We’ll keep you posted with any possible updates and changes around ISAs throughout the year.

Lastly, if you still have any remaining ISA allowance to use we are approaching 1 week to go of the tax year. There’s still time to make the most of your tax-free allowance with a Cash or Stocks & Shares ISA.

See you soon for our next update,

Stephen


When investing, your capital is at risk. The value of your investments can go down as well as up and you may get back less than your original investment. Chip does not provide financial advice.

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Seccl Custody Limited is the ISA Manager for the Chip Stocks and Shares ISA. A monthly or annual ChipX membership required for certain funds selected within a Stocks and Shares ISA. Fund management charges apply ISA limits apply. Invest £20k per tax year. Chip does not provide tax or financial advice. Tax treatment depends on individual circumstances and may be subject to change in the future.