No sooner has Gordon Browns pre-Budget speech escaped his lips than his words, about Governments steps to encourage saving and asset ownership, have come up for debate.
In chapter five of the Report, the Government said more than 16 million people currently have an Individual Savings Account (Isa). According to the Treasury, when these ISAs were implemented in 1999 they were guaranteed to run until 2009, with an overall annual investment limit set at £5,000, with a maximum of £1,000 in cash. A higher initial limit of £7,000, with a maximum of £3,000 in cash, was set for the first year to promote new saving. In 2000, the higher limit was extended to April 2006. Today's report says: “The Government remains committed to Isas and plans, subject to co...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
