That means any tax payer is mad to have a normal savings account (yes, it took me long enough to find out about the existance of ISA's !!! :-[ )
That means any tax payer is mad to have a normal savings account
they give us all £3,000 to save in an ISA tax-free
3k is the limit for cash ISA. full stop.
Well, I think you've answered your own question really. The Government wants to limit the amount of tax they lose through ISAs. ISAs cost the Chancellor almost £1bn in lost tax in 2003-04. Ok small in the grand scheme of things but just think how many schools could be refurbished with that or how many doctors and nurses could be recruited.
Yep, you're right there.
Yeah and think how many buerocrats he could wase 1 billion on ;D
Or how much he could top up MP pensions....
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