💨 Abstract

In an effort to stimulate the sluggish British economy, Chancellor Rachel Reeves proposes encouraging savings in stocks and shares ISAs over low-interest cash ISAs. Initially, a plan to slash tax-free savings limits was abandoned after public backlash, but Reeves reiterates plans to foster an investment culture. While cash ISAs serve as a safe savings option, stocks and shares ISAs can boost personal finances and the UK economy.

Courtesy: Craig Munro