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

dcs34

bristolleedsfan said:

“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.”

The conflation of investing and saving is a bit alarming...

zagfles

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. 

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.

Yeah it's been quite funny really, the Guardian seems obsessed with this:

Savings providers vow to fight any attempt to cut cash Isa limit to £4,000 | Cash Isas | The Guardian
Cash Isas: pressure grows against rumoured move to £4,000 allowance | Isas | The Guardian
Don’t cut cash Isas – they’re our refuge in an uncertain world | Cash Isas | The Guardian
No cash Isa shake-up in spring statement, but Reeves still considering cuts | Isas | The Guardian

Albermarle

zagfles said:

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. 

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.

Yeah it's been quite funny really, the Guardian seems obsessed with this:

Savings providers vow to fight any attempt to cut cash Isa limit to £4,000 | Cash Isas | The Guardian
Cash Isas: pressure grows against rumoured move to £4,000 allowance | Isas | The Guardian
Don’t cut cash Isas – they’re our refuge in an uncertain world | Cash Isas | The Guardian
No cash Isa shake-up in spring statement, but Reeves still considering cuts | Isas | The Guardian

As have been the DT, Express and GB news 
Surprising it has generated so much coverage.

zagfles

Albermarle said:

zagfles said:

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. 

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.

Yeah it's been quite funny really, the Guardian seems obsessed with this:

Savings providers vow to fight any attempt to cut cash Isa limit to £4,000 | Cash Isas | The Guardian
Cash Isas: pressure grows against rumoured move to £4,000 allowance | Isas | The Guardian
Don’t cut cash Isas – they’re our refuge in an uncertain world | Cash Isas | The Guardian
No cash Isa shake-up in spring statement, but Reeves still considering cuts | Isas | The Guardian

As have been the DT, Express and GB news 
Surprising it has generated so much coverage.

Ooh - hot off the press today, now saying the limit will be cut but not just yet. This really does excite "certain media" 
Treasury to push ahead with cash ISA reform despite backlash | The Independent

lr1277

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. 

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.

It is also quite possible these City types are giving stories to the media so the public think it is inevitable and then once the public think this, the goverment think why not?

dcs34

It was very clear much of the briefing was led by firms who would stand to benefit if investors were encouraged to move away from cash ISAs to S&S ISAs.

But part of being in government is managing the media. If you let rumours fester without pushback don't be surprised if people start to believe it to have an amount of truth to it.

Scot_39

dcs34 said:

It was very clear much of the briefing was led by firms who would stand to benefit if investors were encouraged to move away from cash ISAs to S&S ISAs.

But part of being in government is managing the media. If you let rumours fester without pushback don't be surprised if people start to believe it to have an amount of truth to it.

Without pushback - if only - Reeves has publicly spoken about reviewing the rules - and specifically the balance - doing so - and it's been confirmed this week by treasury officials that it is still being planned.

This isn't some third party driving the media coverage - it's govt ministers including Reeves speaking about it in public as a coming change - and her treasury officials.

But unlike those in the public sector and their protected - all too often unfunded - defined benefit pensions - many in the private sector - already are at the mercy of markets for the bulk of their savings - via their defined contribution pension funds.