In the 80s and 90s, banks and building societies bought life insurance, pension companies and fund managers, took on lots of financial advisers and sold financial products by the bucket-load, by means both fair and foul, to their customers. Following the banking crash and the PPI and other scandals, they swiftly about-turned and flogged what was left. So the fact that the likes of NatWest are sniffing around Quilter, one of the biggest financial advice and fund platforms, is a big deal in every sense. And mark my cynical words, history, will, alas, repeat. As sadly, it always does.
“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.
