UK politician considers taxing Cash ISAs, potentially affecting pensioners' savings.
UK politician Rachel Reeves is considering removing tax-free benefits on Cash ISAs, following suggestions that £300 billion in these accounts could yield better returns in stocks. However, experts warn this could negatively impact pensioners who rely on tax-free cash savings. In 2019, 3.4 million over-65s held exclusively cash ISAs, totaling £87 billion. Financial experts urge focusing instead on building confidence in more volatile investments.
2 months ago
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