UK chancellor Rachel Reeves’ Spring Statement yesterday (March 26) hinted at significant investment reforms to come, possibly by the Autumn Budget.
As reported by FT Adviser, the government is looking at options for Isa reform to get more people investing into stocks and shares.
On the face of it, this looks like good news, and the provider-side of the financial services profession has raced to fill my inbox with suggestions for reforms.
These include ditching the Lifetime Isa, reforming how much people can invest into cash, or even creating a single, simplified tax wrapper that allows individuals to save into cash or stocks-and-shares, or both.
Another suggestion made by providers is to raise the annual allowance – currently set at £20,000.