Hunt to Overhaul ISAs this autumn

Malthusian

 He wants more capital to go to UK companies from ISA investments, which is a sea-change potential,” said Williams.

I wonder if Williams is aware that the phrase "sea change" originally referred to the process of being eaten by fish, from Ariel's song in The Tempest. 

Full fathom five thy father lies;
Of his bones are coral made;
Those are pearls that were his eyes;
Nothing of him that doth fade,
But doth suffer a sea change
Into something rich and strange.

Politically it would be a trap for Hunt, not for Labour. If the UK stockmarket drops or merely underperforms, Labour can accuse the Tories of not just tanking the economy but forcing ordinary investors down with it. "Investors lose millions thanks to Hunt's Brexit ISA."

DietIrnBru

Malthusian said:

 He wants more capital to go to UK companies from ISA investments, which is a sea-change potential,” said Williams.

I wonder if Williams is aware that the phrase "sea change" originally referred to the process of being eaten by fish, from Ariel's song in The Tempest. 

Full fathom five thy father lies;
Of his bones are coral made;
Those are pearls that were his eyes;
Nothing of him that doth fade,
But doth suffer a sea change
Into something rich and strange.

Politically it would be a trap for Hunt, not for Labour. If the UK stockmarket drops or merely underperforms, Labour can accuse the Tories of not just tanking the economy but forcing ordinary investors down with it. "Investors lose millions thanks to Hunt's Brexit ISA."

The whole concept of a FTSE ISA is Brexiter nonsense - it's either to inflate value of companies to make "the city" look attractive to speculators - or at worse - throwing money into high risk new companies exposing the unknowing publlic to risk beyond their understanding - in Scotland it was the Darien Scheme, in the Netherlands - The Tulip Bubble and in England, The South Sea Bubble.

Sunak has nothing to offer but financial alchemy and nationalist bluster.

boingy

Perhaps we can leave politics off this forum. It never ends well.

wmb194

DietIrnBru said:

Malthusian said:

 He wants more capital to go to UK companies from ISA investments, which is a sea-change potential,” said Williams.

I wonder if Williams is aware that the phrase "sea change" originally referred to the process of being eaten by fish, from Ariel's song in The Tempest. 

Full fathom five thy father lies;
Of his bones are coral made;
Those are pearls that were his eyes;
Nothing of him that doth fade,
But doth suffer a sea change
Into something rich and strange.

Politically it would be a trap for Hunt, not for Labour. If the UK stockmarket drops or merely underperforms, Labour can accuse the Tories of not just tanking the economy but forcing ordinary investors down with it. "Investors lose millions thanks to Hunt's Brexit ISA."

The whole concept of a FTSE ISA is Brexiter nonsense - it's either to inflate value of companies to make "the city" look attractive to speculators - or at worse - throwing money into high risk new companies exposing the unknowing publlic to risk beyond their understanding - in Scotland it was the Darien Scheme, in the Netherlands - The Tulip Bubble and in England, The South Sea Bubble.

Sunak has nothing to offer but financial alchemy and nationalist bluster.

You can definitely see this apolitically: there is a great deal of concern about the LSE* and its continued relevance relative to New York e.g., attracting IPOs and keeping the secondary market liquid. It probably doesn't help that Britons and their pension funds have become far more global in their investment outlooks and it's cheaper than ever to invest abroad.

*And other European bourses.

subjecttocontract

refluxer said:

Altior said:

By pure coincidence (sort of!), James Shack cites a study that finds that 73% of the population don't understand the impact of inflation on their savings, or how pensions work. The video at large happens to be about this topic. 

The end of tax free savings as we know it - YouTube

At the other end of the scale, for those savvy (and wealthy) enough to max out their ISA allowance each year, I notice the idea of a £100k lifetime cap is mentioned as a possibility again - this would inevitably raise a huge amount in extra taxes, so doesn't seem like such a far-out idea.

If a cap was to happen, I wonder how this would work for those already over that amount ? Presumably they wouldn't be forced to remove the excess but it would mean that they couldn't put any more money in.

What's this got to do with inflation ?
Most people who can, already try to ensure they are getting the best return on their money. I doubt any of them are thinking about inflation when the choose a suitable account.
 

refluxer

subjecttocontract said:

refluxer said:

Altior said:

By pure coincidence (sort of!), James Shack cites a study that finds that 73% of the population don't understand the impact of inflation on their savings, or how pensions work. The video at large happens to be about this topic. 

The end of tax free savings as we know it - YouTube

At the other end of the scale, for those savvy (and wealthy) enough to max out their ISA allowance each year, I notice the idea of a £100k lifetime cap is mentioned as a possibility again - this would inevitably raise a huge amount in extra taxes, so doesn't seem like such a far-out idea.

If a cap was to happen, I wonder how this would work for those already over that amount ? Presumably they wouldn't be forced to remove the excess but it would mean that they couldn't put any more money in.

What's this got to do with inflation ?
Most people who can, already try to ensure they are getting the best return on their money. I doubt any of them are thinking about inflation when the choose a suitable account.

My comments have got nothing to do with inflation - did you mean to reply to Altior's post and reply to mine by mistake ?  

I'd already seen the video and was highlighting another possible suggested change to ISAs that was mentioned in it. A £100k ISA cap would impact a lot of people and I was surprised that it hadn't been mentioned in this thread.

zagfles

Malthusian said:

 He wants more capital to go to UK companies from ISA investments, which is a sea-change potential,” said Williams.

I wonder if Williams is aware that the phrase "sea change" originally referred to the process of being eaten by fish, from Ariel's song in The Tempest. 

Full fathom five thy father lies;
Of his bones are coral made;
Those are pearls that were his eyes;
Nothing of him that doth fade,
But doth suffer a sea change
Into something rich and strange.

Politically it would be a trap for Hunt, not for Labour. If the UK stockmarket drops or merely underperforms, Labour can accuse the Tories of not just tanking the economy but forcing ordinary investors down with it. "Investors lose millions thanks to Hunt's Brexit ISA."

Though the same argument could be made for stuff like tax breaks on VCTs which are likely to be far riskier than UK stocks. There already is loads of govt/FCA interference in what people invest in, for instance all the ESG stuff in workplace default pensions mentioned earlier.

It's nothing new, when PEPs (the precursor to equity ISAs) were introduced at least 50% had to be UK investments.