If Cash ISAs are ended by Government.

Beeblebr0x

I'm retired so can't pay more into my pension but I'll be putting my money into Premium Bonds should this happen.

Alpine_Star

jimexbox said:

caveman38 said:

Surely nothing can change for 25/26. March 26 is only a statement (isn't it) and a full budget with policy changes is not due till autumn. Are there exceptions?

If anything is announced, I can't see it taking effect until April 2026. So the government will get hammered for a year, before it even happens. Then it will have very little effect as retrospective taxation on current cash ISA's won't happen.

Even this lot with a low political aptitude can't be that stupid. Labour: "hold my cup"...

The Telegraph are saying it would start in 2026, the Express are saying 2025. But like you I can't think it could be sooner than 2026.

I was looking to put £20k of new money into fixed rate cash ISAs over each of the next few years so looks like I'll have to change my strategy. 

Martico

I'm not convinced of the wisdom of basing a life strategy on whatever confected outrage the Telegraph and Express are pushing on any given day

Alpine_Star

Indeed. I wouldn't base a strategy until I hear the details in her spring statement on 26 March.

Expotter

As reported in The Standard ( and The I) today,

Asked about the potential limit on cash Isas per year, on Thursday, Rachel Reeves told broadcasters: “It’s really important that we support people to save to achieve their aspirations.

“At the moment, there is a £20,000 limit on what you can put into either cash or equities (ISAs) but we want to get that balance right.

“I do want to create more of a culture in the UK of retail investing like what you have in the United States, to earn better returns for savers.”

If that's not fuelling speculations I don't know what is. "Get the balance right", make of that what you will.

https://www.standard.co.uk/business/money/reeves-says-she-wants-right-balance-on-cash-isa-deposit-limits-b1212374.html

mebu60

Savings providers vow to fight any attempt to cut cash Isa limit to £4,000 | Cash Isas | The Guardian

Whatever happens I would venture to suggest it's too late for implementation April 2025. 

Bobblehat

Alpine_Star said:

Indeed. I wouldn't base a strategy until I hear the details in her spring statement on 26 March.

Would any announcement by BOE on 20th March have any influence on savers' ISA strategy? Example1: Grab a fix before it drops? Example2: Stick, and wait until 26th?

Kim_13

Bobblehat said:

Alpine_Star said:

Indeed. I wouldn't base a strategy until I hear the details in her spring statement on 26 March.

Would any announcement by BOE on 20th March have any influence on savers' ISA strategy? Example1: Grab a fix before it drops? Example2: Stick, and wait until 26th?

Most would probably open anything that might be attractive, then fund after 26th (given ISAs tend to have a 2 week funding window before being automatically closed if they are not used.) Opening secures the rate that was available at application.

Bobblehat

Kim_13 said:

Bobblehat said:

Alpine_Star said:

Indeed. I wouldn't base a strategy until I hear the details in her spring statement on 26 March.

Would any announcement by BOE on 20th March have any influence on savers' ISA strategy? Example1: Grab a fix before it drops? Example2: Stick, and wait until 26th?

Most would probably open anything that might be attractive, then fund after 26th (given ISAs tend to have a 2 week funding window before being automatically closed if they are not used.) Opening secures the rate that was available at application.

I was surprised to see some EA ISA offerings only had a 5 or 7 day initial funding window ... that is if you can believe live chat CS messages! There is at least one that offers open ended initial funding on their EA ISA!

Edit: I am thinking in terms of open early, fund in 25-26 TY

VNX

Bobblehat said:

Alpine_Star said:

Indeed. I wouldn't base a strategy until I hear the details in her spring statement on 26 March.

Would any announcement by BOE on 20th March have any influence on savers' ISA strategy? Example1: Grab a fix before it drops? Example2: Stick, and wait until 26th?

Given the jump in inflation I doubt rates will move in March so just grab the best rate you can now