Cash Isa Petition

caeler

Signed and bump!

MoneySaverLog

The list is slowly growing, up to 5,800 signatures but fear we need more time than December 2012. If the original authors of this petition can it probably be best to extend it.

We also need more press coverage I guess Martin Lewis could start a campaign now he has a ITV1 prime time slot.

http://epetitions.direct.gov.uk/petitions/38599

dunstonh

MoneySaverLog wrote: »

The list is slowly growing, up to 5,800 signatures but fear we need more time than December 2012. If the original authors of this petition can it probably be best to extend it.

We also need more press coverage I guess Martin Lewis could start a campaign now he has a ITV1 prime time slot.

http://epetitions.direct.gov.uk/petitions/38599

The petition is flawed. Why would Martin Lewis wish to campaign for it?

C_Mababejive

meggsy wrote: »

Please sign the cash isa petition if you agree ...

http://epetitions.direct.gov.uk/petitions/38599

I'm sure they will be only too happy to allow the full ISA limit in cash. Banks will love it. Muggins savers handing over £11k cash in return for 2.5% gross...hahahahaha...

MoneySaverLog

C_Mababejive wrote: »

I'm sure they will be only too happy to allow the full ISA limit in cash. Banks will love it. Muggins savers handing over £11k cash in return for 2.5% gross...hahahahaha...

My case it would be 3.7% and is a lot safer than risking it in shares :eek:

innovate

MoneySaverLog wrote: »

My case it would be 3.7% and is a lot safer than risking it in shares :eek:

I am on 4.25% with some, and 4% with some other ISA money myself. Not sure where C_Mababejive get their 2.5% hahahahaha (in their words) from

jimjames

innovate wrote: »

I am on 4.25% with some, and 4% with some other ISA money myself. Not sure where C_Mababejive get their 2.5% hahahahaha (in their words) from

You might get good rates but I'd hazard a guess that the vast majority of money in cash ISAs is not at a rate like that. I'd doubt 2.5% would even be the average rate across all ISAs.

sorcerer

innovate wrote: »

I am astonished that people here seem so intolerant towards people who wish to hold their money in cash rather than stocks and shares.

agreed, sometimes the risk of losing capital is too much for people, when I had too much money in stocks and shares, I couldn't sleep at night worrying, so I de-risked into cash and now I am much happier.

grey_gym_sock

once again: not supporting a new tax break, with no indication of how it should be paid for, is not intolerance. anybody who wants to hold their money as cash is already free to do so.

innovate

There's a bit of a flaw in the arguments of the anti-petition folks on here: on the one hand, you say it will cost a huge amount of money, on the other you say there wouldn't be many people who could afford to stash away £11,260 a year.

I am also no longer so sure of the "cost" argument. The Treasury is, obviously, quite happy for people to have up to £11,260 per person [in this FY] outside of tax-generating savings accounts. Why should they then care in which sort of ISA people keep their money? Where's the extra cost coming into it?

And why would the Treasury, effectively, want to deprive older people, who no longer wish to double in investments, of their full ISA allowance?