Can Martin Lewis please sort out ISA's?

Primrose

Yes, it's infuriating and the financial institutions do seem to be taking huge advange of the captive audience which ISA susbscribers create. However, nobody is forced to put their ISA savings into cash and what goes into equities removes money from the cash pot. I guess it's partly a question of heavier administration which causes lower rates but if everybody decided to put their entire ISA allowance every year into equities instead of cash my guess is that the banks and building societies would soon start scrabbling for money and put their interest rates up. Most people know it's common sense to use your annual ISA allowance if you're a taxpayer and the banks take hudge advantage of this nice annual pool of inflowing money. If it suddenly totally dried up, it would be interesting to see what happened to interest rates. Perhaps next year from April 1st we all have a Cash ISA savers strike and see how that affects the issue of supply and demand.