UK Chancellor Rachel Reeves urged to maintain £20,000 ISA limit to support saving amid rising costs.

UK Chancellor Rachel Reeves faces mounting pressure ahead of the November 26 Autumn Budget to avoid cutting the £20,000 annual ISA allowance, with experts warning that reducing it to £10,000 could discourage saving, especially among middle- and lower-income households and older adults. Financial leaders, including Danny Haynes of Kroo Bank and Nottingham Building Society, urge preserving or even doubling the limit, stressing that tax-free savings are vital for financial security amid rising living costs and stagnant wages. They warn that cuts could push savers toward riskier alternatives or reduce savings altogether, undermining economic stability and Labour’s broader financial goals.