No, no, no, what a very short memory you have, Ms Regulator. Leaving it all to the big banks and insurance companies was the big regulation idea twenty years or more ago. And what happened? Pensions and much other misselling, PII, mortgage and lending disasters of all descriptions. And it’s still as easy for bad apples to hide in a big barrel as it is for them to build their own small one. The difference, I suppose, is that big companies have big pockets from which to fork out compensation. But that’s not a great starting point, is it?
“Reeves backs down on plans to cut ISA limit”
So it looks as though Cash ISAs are safe for the moment (FTM – is that a thing?) Rachel has apparently ‘bowed to pressure’ from the banks and building societies and decided not to reduce the allowance to £4,000 for cash and to keep the £20,000 parity with Stocks and Shares ISAs. Bowed also to common sense, I’d say.
