Can I wrap a savings account with an ISA?

savings_my_hobby

mad_rich wrote: »

True. Always a risk (although Balls has said he won't reverse any of the Budget).

In the OP's friend's case, it's not a huge problem. If the savings allowance is not implemented, he can quickly stick his entire savings in an ISA in one year's allowance (whereas those burdened(!) with £100k wouldn't be able to do).

The same is true if interest rates were to shoot up. At 7% he would hit the threshold much quicker, so might want to shelter some cash within an ISA. Something which he'd be able to do very quickly.

Labour has to get elected before Balls can get anywhere near the budget. Their Scotland votes look in danger and I expect UKIP to push them very hard up north and they wont get much joy down south either