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Chancellor Scraps Major Cuts to Cash Isa Limits

7/13/2025

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Summary

Story summary

UK Chancellor Rachel Reeves has hit the brakes on plans to slash tax-efficient cash Isa limits from £20,000 to £5,000, responding to industry pressure. Concerns about mortgage funding loomed large, as Reeves seeks to encourage stock market investments amid a challenging backdrop of a 0.1% economic contraction in May.

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Story summary

UK Chancellor Rachel Reeves has hit the brakes on plans to slash tax-efficient cash Isa limits from £20,000 to £5,000, responding to industry pressure. Concerns about mortgage funding loomed large, as Reeves seeks to encourage stock market investments amid a challenging backdrop of a 0.1% economic contraction in May.