Budget 2009: Cash Isa Limit Increased

masonic

lynzpower wrote: »

BITTER & ANGRY

Just think yourself lucky you're not 49!

gcw84

Wild_Billy wrote: »

I think this reaction is pretty disgraceful. We complain when the ISA limits aren't increased and we complain when they are. Extremely ungrateful when you consider that any money spent here could no doubt have been spent elsewhere on pensioners or child poverty or whatever.

We really need to be a bit more grown up.

You've missed the point entirely. We'd accept waiting until next year to get the increase, if it applied to everyone then. But, why should those over 50 get it now, whilst the rest of use have to wait until next April? It's this fact that's unfair, not the fact that there's any waiting involved.

And, what adds insult to injury is that many of those over 50 come to have the very money Mr Darling is letting them save tax free as a result of the many benefits of being an older person in this country. Perhaps they're saving up all the money they would have spent on travel, if they weren't going here, there and everywhere for free on the bus and train. And then, perhaps they'll add the money they would have spent on heating, given that Mr Darling is footing the bill for that, too.

Enough is enough. I'm all for helping those that need it, but this goes above and beyond that and is giving over 50s an unfair advantage.

Hungerdunger

gcw84 wrote: »

And, what adds insult to injury is that many of those over 50 come to have the very money Mr Darling is letting them save tax free as a result of the many benefits of being an older person in this country. Perhaps they're saving up all the money they would have spent on travel, if they weren't going here, there and everywhere for free on the bus and train. And then, perhaps they'll add the money they would have spent on heating, given that Mr Darling is footing the bill for that, too.

Well I'd swap my over-50 for your under-50 any day even if it meant I couldn't benefit from the new ISA allowances until next year.

And to put the record straight, being over 50 doesn't entitle you to free travel or help with the heating - that's for 60 year olds.

DawnW

I'm 55, can't really see why the limit should be raised for over 50s and not everyone BUT given the choice, I would rather be under 50 even if it meant having a lower ISA allowance

Free buses, trains, heating? What is that all about?

Sorry all you young guys if you are looking forward to all this, but it doesn't happen - we still have to go to work and stuff, same as you

gcw84

To clarify: Of course, my point was not that all over 50s get free travel and heating. But a large proportion of them do (over 60s). And it's absolutely unacceptable that they should then be allowed to save more money tax free than the rest of us. Would they have so much to save tax free if they had to pay for the full cost of living themselves?

Jonbvn

IMHO the over 50's getting an increased allowance 6 months early is somewhat irrelevant.

From my perspective the ability for me and OH to now be able save/invest 20k/year tax-free is causing me to review our pension/ISA situation.

gotneed

Just throwing my 2 pence in.... wouldn't it be fairer for the government to set ISA allowances to the same as the TAX allowance - just over £6K?
After all you can earn that much without paying tax, it would be nice to save that much as well!

Baldur

gotneed wrote: »

Just throwing my 2 pence in.... wouldn't it be fairer for the government to set ISA allowances to the same as the TAX allowance - just over £6K?
After all you can earn that much without paying tax, it would be nice to save that much as well!

The ISA allowance is way above that level already, at £7,200 per year - increasing to £10,200 as a result of the Budget. Are you talking about the Cash ISA portion of the allowance?

harz99

The sentiments being expressed in this thread are a joke - with rates and returns as low as they are, an extra 6 months tax free on a maximum £3k each for the over 50s is hardly going to make a lot of difference!!!!!!

BruceyBonus

harz99 wrote: »

The sentiments being expressed in this thread are a joke - with rates and returns as low as they are, an extra 6 months tax free on a maximum £3k each for the over 50s is hardly going to make a lot of difference!!!!!!

Think into the long term. That is an extra £3000 in an ISA for as long as ISAs last - not just 6 months.