In a letter to Chancellor Rachel Reeves and City minister Emma Reynolds, the £11bn asset manager said it shares the latter’s view that holding onto cash savings means investors are missing out on significant potential returns on their capital.
Reeves not expected to make changes to Cash ISAs in Spring Forecast – reports
The asset manager made two suggestions to the Treasury, the first being a limit the future tax benefit of Cash ISAs to £5000.
This would “significantly reduce the almost £300bn allocation to cash within ISAs and immediately increase future investment savings into e…
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