The government is investigating ISA reform options to tackle what has been described as Cash ISA “hoarding” which results in savers missing out on potentially higher returns from Stocks and Shares ISAs.
Treasury documents released after the Spring Statement today (26 March) said the government wanted to "strike the right balance" between cash and equities to earn "better returns for savers, boost the culture of retail investment and support the growth mission" in its ISA system reforms. The practice has been called Cash ISA "hoarding" by provider AJ Bell. The firm has long called for ISA reform and simplification. The Treasury document added that alongside this, the government is working closely with the Financial Conduct Authority to deliver a system of "targeted support" to give pe...
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