Important and worrying economic news sneaking in below the radar is of various current and impending failing retailers. Falls in ‘discretionary spending’ (ie stuff you don’t need to buy keep you alive) are often the first sign of a downturn/pause-in-growth/recession/Hard Times ahead. Toys Are Us (I know) and Maplin are going down. H&M’s required turnaround is said to be ‘too big’, Debenhams, House of Fraser and New Look are amongst many others said to be ‘struggling’. So log out of Amazon, grab your credit cards, head for the High Street and save Independent Britain before it’s too late.
“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.
