ISA limits at risk

Paul_Herring

Isa limits to stay, says Government minister

Treasury financial secretary Mark Hoban has denied claims the Government is considering reducing tax incentives on Isas in the upcoming spending review.

Treasury select committee member Andy Love warned at the Labour conference in Manchester last week the Government may reduce the benefits of Isas as part of its package of cuts (see the Full Cash Isa guide).

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Mikeyorks

cashbackproblems wrote: »

No they saved the banks which saved the economy, this was more important than avoiding getting into debt which can be repaid over the next 5-10 years. Every country is in debt, we'r in a much better position than france, usa or Ireland!

And its not just about comparing current rates to future rates as in an ISA u have tht amount interest free for life, which benefits the poor who dont have big company contribution pensions.

Its not just labour scaremongering, i read it in the ft a few weeks back, it just didnt make the headlines then.

Everyone knows cuts have to be made, but with tories they are doing it to those without any power and low earners, to keep their friends happy.

Anyone would think you have a social conscience? Unless they read a reply from you last night in response to someone questioning whether HMRC would find out if they didn't declare gross interest on a £50k deposit?

How would the tax authorities find out, personally i reckon your better off keeping it or giving it to charity if you want. I never have and never would declare anything to the taxman

.......... obviously a flexible conscience!

HobGoblin

Labour, Conservatives, Lib Dems.Not much between them realy, Townhall Cat for me next time, may be he can milk us a bit more and take the cream. :rotfl::rotfl:

Cautious_Investor_3

HobGoblin wrote: »

Labour, Conservatives, Lib Dems.Not much between them realy, Townhall Cat for me next time, may be he can milk us a bit more and take the cream. :rotfl::rotfl:

Hmmm, huge differences existed at the election between all three parties, anyone who said different really was not paying attention.

The major difference now is that the Tories seem to have a leader who is slowly growing into the role of PM and the Labour party have turned their back on the only person in their party who could be PM.

Only my humble opinion of course!

The Cautious Investor

Paul_Herring

Cautious_Investor wrote: »

[...] and the Labour party have turned their back on the only person in their party who could be PM.

Diane Abbott?

Primrose

Maybe there will be no need to trim back ISA allowances because once Child Benefits are cut back, those higher rate taxpayers who were receiving it and investing it into their annual ISAs will no longer be able to use up their existing allowances.

Paul_Herring

Primrose wrote: »

Maybe there will be no need to trim back ISA allowances [...]

They aren't lowering the ISA limits.

It's just a Labour minister shooting his mouth off.

StevieJ

Cautious_Investor wrote: »

Hmmm, huge differences existed at the election between all three parties, anyone who said different really was not paying attention.

The major difference now is that the Tories seem to have a leader who is slowly growing into the role of PM and the Labour party have turned their back on the only person in their party who could be PM.

Only my humble opinion of course!

The Cautious Investor

What does it matter what they said before the election, they have ripped up the script.

Cautious_Investor_3

Paul_Herring wrote: »

Diane Abbott?

:rotfl:She's a sad loss!

Cautious_Investor_3

StevieJ wrote: »

What does it matter what they said before the election, they have ripped up the script.

I'd tend to agree with you.

My point was simply that there is / were and are significant differences between all three parties.