Your first instinct might be sympathy at the suffering of a workforce whose employer, yes, has not laid anyone off, but has cut wages by 50%. Then you ‘do the math’, as our cousins might say. Cutting pay to £18m for 62 staff brings the average down to £290,000. And dividends haven’t been reduced, so shareholders, which would include most of the top bods, will still have done pretty well despite everything. I think the reaction of, for instance, a care worker wiping bottoms on minimum wage, might be ’nice work if you can get 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.
