Individual Savings Accounts
The question
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of changing cash ISA's to UK-based stocks and shares ISA's on the economy.
Answered by Emma Reynolds
Individual Savings Accounts (ISAs) incentivise greater saving and investment by helping people save for their future goals and build greater financial resilience. The Government recognises the important role that cash savings play in helping households build a financial buffer for a rainy day.
The Government wants to see more consumers participate in capital markets and benefit from the long-term financial security and returns that investing can provide. The Financial Services Growth & Competitiveness Strategy call for evidence, which closed on 12 December, identified that increasing retail participation in capital markets could support long-term sustainable growth within the sector and the wider economy. The Government is considering the feedback provided.
The Government continues to keep all aspects of savings policy under review.
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