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Cash ISA Allowance potentially doubling?

Walletwatch
Walletwatch Posts: 1,055 Forumite
in ISAs & tax-free savings
One of the items mentioned in the Sunday Times was that the mini cash ISA limits could potentially be doubled to 7200 as part of the housing market packages to be proposed this week by Brown. Any clues on the veracity of this?

Cheers
WW
It's always the grass that suffers, irrespective of whether the elephants are fighting or making love !!!

Comments

  • Paul_Herring
    Paul_Herring Posts: 7,484 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Link?

    I find it highly unlikely - cash ISA's cost the government a lot in money (hence the new ability to move cash to equity, but not the other way round.)
    Conjugating the verb 'to be":
    -o I am humble -o You are attention seeking -o She is Nadine Dorries
  • Jonbvn
    Jonbvn Posts: 5,562 Forumite
    Part of the Furniture 1,000 Posts
    I can find no article on the Times website???
    In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:
  • cheerfulcat
    cheerfulcat Posts: 3,418 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    I remember the idea being floated a month or two ago - here's what I found via Google. I would think this is unworkable.
  • Walletwatch
    Walletwatch Posts: 1,055 Forumite
    Paul_Herring wrote: »
    Link?

    I find it highly unlikely - cash ISA's cost the government a lot in money (hence the new ability to move cash to equity, but not the other way round.)

    Sorry, but it is just a line in the paper copy (don't have a link). Am at work just now, but I will get home and update this thread with details incl which section, page number, headline, etc.
    It's always the grass that suffers, irrespective of whether the elephants are fighting or making love !!!
  • cheerfulcat
    cheerfulcat Posts: 3,418 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    The Times article is here ( sixth paragraph ).
  • Paul_Herring
    Paul_Herring Posts: 7,484 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    cheerfulcat wrote: »
    The Times article is here ( sixth paragraph ).

    I agree with you - unworkable, and likely to re-complicate ISA's after the recent simplification. We'd have:

    Cash ISA
    S&S ISA
    House Deposit ISA??!?

    What next? A 'pension ISA' for those who don't want a regular pension fund? What if you decide you don't want to buy a house after all and want to rent for the rest of your life? What if you inherit a house?
    Conjugating the verb 'to be":
    -o I am humble -o You are attention seeking -o She is Nadine Dorries
This discussion has been closed.
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