Cash Isas: No imminent change to tax-free allowance

The Treasury has shelved any immediate plans to cut the tax-free cash Isa allowance, the BBC understands, after strong opposition from banks, building societies and consumer campaigners. The current £20,000 annual Isa allowance covers both cash and stocks and shares products. Chancellor Rachel Reeves had reportedly been considering a reduction to encourage investment in stocks and shares, and changes have not been completely ruled out for the future. Some proposals, such as more investment education and looser rules on regulated advice, are still expected in the Mansion House speech on Tuesday.