Chancellor of the Exchequer Jeremy Hunt is reportedly backing plans for a significant overhaul of the UK ISA scheme, with changes designed to encourage individual savers to invest in the domestic market.
According to reports by the Financial Times, people familiar with the matter said UK Treasury officials have met with a series of investment industry executives to examine how to simplify the current array of ISA offerings and remove barriers to investing in the stock market itself. Hunt is set to use the upcoming Autumn Statement in November to rollout the proposals, according to sources. UK assets still carry Mini Budget risk premium One of the ideas includes enabling cash savings and stock market investments to be held within a single ISA, as opposed to the current separate set ...
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