BUDGET '09: Industry positive on Isa boost but Govt could go further

The investment industry has given its support to the £3,000 increase in the tax free ISA saving limit...

The investment industry has given its support to the £3,000 increase in the tax free ISA saving limit but the Government has attracted criticism for only allowing over-50s to benefit from the measure this year. Chancellor Darling said the ISA limit will be increased to £10,200 this year for the over 50s and from next year for everyone else. Of the new limit, £5,100 can be saved in cash only. According to the Government's Budget report the increase will cost the Exchequer £5m over the rest of the tax year. This will rise to £20m in 2010-11 and £60m in 2011-12. Tax Incentivised Savings As...