Call for ISA allowance to be increased

iStock_000003037994_ExtraSmallThe British Bankers Association (BBA) has called for George Osborne to help savers by changing how the annual Individual Savings Accounts (ISA) allowance works. Investors can put up to £11,520 into an ISA in the 2013/14 tax year. However, only £5,760 can be held in a Cash ISA, leading to claims that savers, who prefer to hold cash, are losing out to investors, who are prepared to take greater risks with their investments. In its’ submission to the Treasury ahead of next month’s Autumn Statement, ...