Oct 29, 2026 · 27 min · 11 segments
Today on the show - Tom Stevenson is here to run the rule over the Budget - the annual financial statement from the government that was delivered this week. There’s news on ISAs and tax on income from…
Ed MonkHost
There were measures on various parts of the savings and investments regime, as I've said.
Yeah, so Rachel Reeves a year ago suggested that the contribution allowance for a cash ISA would reduce for people under the age of 65 from 20,000 to 12,000.
to take money out of savings, not really doing much for the economy, and put them into investments.
At the time, a lot of people said, I'm not sure that that's really going to work.
Anyway, John Healy has taken the view that, I mean, the way he described it was, you know, I'd rather encourage investment with the carrot rather than the stick.
Yeah, and because it's not going to happen, then there was a host of other sort of knock-on changes that were going to have to happen to do with your stocks and shares ices and uninvested cash and amounts you could hold in cash-like instruments.
Tom, there's been many things in my career that I've had to learn because there's been a rule change and then they become obsolete.
Yeah, except that a lot of people and companies went to a lot of bother to sort of prepare for something which is just going to disappear.
And it was funny, you know, they cost all these policy sort of measures and they costed this, the cost of not implementing it.
There were measures on various parts of the savings and investments regime, as I've said.
Yeah, so Rachel Reeves a year ago suggested that the contribution allowance for a cash ISA would reduce for people under the age of 65 from 20,000 to 12,000.
to take money out of savings, not really doing much for the economy, and put them into investments.
At the time, a lot of people said, I'm not sure that that's really going to work.
Anyway, John Healy has taken the view that, I mean, the way he described it was, you know, I'd rather encourage investment with the carrot rather than the stick.
Yeah, and because it's not going to happen, then there was a host of other sort of knock-on changes that were going to have to happen to do with your stocks and shares ices and uninvested cash and amounts you could hold in cash-like instruments.
Tom, there's been many things in my career that I've had to learn because there's been a rule change and then they become obsolete.
Yeah, except that a lot of people and companies went to a lot of bother to sort of prepare for something which is just going to disappear.
And it was funny, you know, they cost all these policy sort of measures and they costed this, the cost of not implementing it.
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