MPs warn tax changes to ISAs and savings limits won’t boost markets and may harm savers.

MPs have warned Chancellor Rachel Reeves that reducing the £20,000 annual ISA allowance or cutting the £1,000 tax-free interest threshold would not significantly boost stock market investment or encourage broader saving. They argue such changes could discourage savers, especially middle- and low-income households, from using tax-free accounts and undermine confidence in government fiscal policy. The lawmakers stress that economic conditions and investor sentiment, not minor tax adjustments, drive market performance, and urge evidence-based decisions to protect long-term financial planning and savings incentives. The Treasury has not confirmed any changes.