Cash ISAs won't be changed on 26th March?

hallmark

Every newspaper is running the same story this morning, which is that Cash ISAs will not be changed this month but they are still slated to be "reformed" this year.

It's a complete mystery how they've all hit on the identical story as we've been told many times that the Treasury does not comment on budget speculation.
 

Flugelhorn

someone being a bit leaky 

slinger2

Always seemed unlikely. Probably won't be a BOE base rate cut next week either, so perhaps a quiet end to the tax year from a savings point of view.

Section62

hallmark said:

Every newspaper is running the same story this morning, which is that Cash ISAs will not be changed this month but they are still slated to be "reformed" this year.

It's a complete mystery how they've all hit on the identical story as we've been told many times that the Treasury does not comment on budget speculation.
 

Probably more of a statement of the obvious - that changing the ISA arrangements this close to the start of the new tax year is likely to be problematic (which would reflect poorly on the government) so someone (not necessarily connected to the Treasury) has probably been tasked with letting it be known that this is a longer term fact ambition.

It is also possible certain cash ISA providers have been stirring things up, though my lips are sealed on who or what that might involve.

Hoenir

Newspapers use clickbait to draw people in. Easier to make stories up than report real business and economic news in depth. 

Albermarle

Hoenir said:

Newspapers use clickbait to draw people in. Easier to make stories up than report real business and economic news in depth. 

This is very true.

 Media creates scaremongering headlines about Cash ISA's being reduced based on zero facts.

Realising that the speculation will prove to be totally unfounded, they then start publishing stories saying there has been a U turn, when nothing was announced in the first place.

artyboy

Section62 said:

hallmark said:

Every newspaper is running the same story this morning, which is that Cash ISAs will not be changed this month but they are still slated to be "reformed" this year.

It's a complete mystery how they've all hit on the identical story as we've been told many times that the Treasury does not comment on budget speculation.
 

Probably more of a statement of the obvious - that changing the ISA arrangements this close to the start of the new tax year is likely to be problematic (which would reflect poorly on the government) so someone (not necessarily connected to the Treasury) has probably been tasked with letting it be known that this is a longer term fact ambition.

It is also possible certain cash ISA providers have been stirring things up, though my lips are sealed on who or what that might involve.

Well they changed the CGT rates on the day of the last budget (in fact it was technically a retrospective change for anyone that had realised a chargeable gain that morning).

So you really can't bank on anything, although CGT wouldn't get the same press coverage as ISAs

eskbanker

artyboy said:

Section62 said:

hallmark said:

Every newspaper is running the same story this morning, which is that Cash ISAs will not be changed this month but they are still slated to be "reformed" this year.

It's a complete mystery how they've all hit on the identical story as we've been told many times that the Treasury does not comment on budget speculation.
 

Probably more of a statement of the obvious - that changing the ISA arrangements this close to the start of the new tax year is likely to be problematic (which would reflect poorly on the government) so someone (not necessarily connected to the Treasury) has probably been tasked with letting it be known that this is a longer term fact ambition.

It is also possible certain cash ISA providers have been stirring things up, though my lips are sealed on who or what that might involve.

Well they changed the CGT rates on the day of the last budget (in fact it was technically a retrospective change for anyone that had realised a chargeable gain that morning).

So you really can't bank on anything, although CGT wouldn't get the same press coverage as ISAs

CGT can be changed instantaneously, as it's purely a matter between the taxpayer and HMRC, whereas ISA limits (and numerous other tax areas) entail implementation of changes to systems, etc, by the regulated financial services industry.

boingy

Albermarle said:

Hoenir said:

Newspapers use clickbait to draw people in. Easier to make stories up than report real business and economic news in depth. 

This is very true.

 Media creates scaremongering headlines about Cash ISA's being reduced based on zero facts.

Realising that the speculation will prove to be totally unfounded, they then start publishing stories saying there has been a U turn, when nothing was announced in the first place.

There's usually a bit more to it than that. Govts are in the habit of leaking stuff to the media to gauge the public reaction before they actually do it - kinda like a customer survey. It's an easy way to avoid some complete bloopers and also reduce the shock. 

Albermarle

boingy said:

Albermarle said:

Hoenir said:

Newspapers use clickbait to draw people in. Easier to make stories up than report real business and economic news in depth. 

This is very true.

 Media creates scaremongering headlines about Cash ISA's being reduced based on zero facts.

Realising that the speculation will prove to be totally unfounded, they then start publishing stories saying there has been a U turn, when nothing was announced in the first place.

There's usually a bit more to it than that. Govts are in the habit of leaking stuff to the media to gauge the public reaction before they actually do it - kinda like a customer survey. It's an easy way to avoid some complete bloopers and also reduce the shock. 

That is very true, but in this case all there seemed to be was a meeting where some City types apparently suggested to the Chancellor that Cash ISA funds should be encouraged to divert to S&S ISAs. Her reaction was not known, and yet there has been weeks of clickbait articles in certain media making a meal out of nothing.

bristolleedsfan

Albermarle said:

boingy said:

Albermarle said:

Hoenir said:

Newspapers use clickbait to draw people in. Easier to make stories up than report real business and economic news in depth. 

This is very true.

 Media creates scaremongering headlines about Cash ISA's being reduced based on zero facts.

Realising that the speculation will prove to be totally unfounded, they then start publishing stories saying there has been a U turn, when nothing was announced in the first place.

There's usually a bit more to it than that. Govts are in the habit of leaking stuff to the media to gauge the public reaction before they actually do it - kinda like a customer survey. It's an easy way to avoid some complete bloopers and also reduce the shock. 

 Her reaction was not known, and yet there has been weeks of clickbait articles in certain media making a meal out of nothing.

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

“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.”