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Article: Good news:ISAs are here to stay. Bad news: The tax-free limit is frozen at [pounds sterling]7,000.
- Article from:
- Daily Mail (London)
- Article date:
- November 2, 2006
CopyrightCOPYRIGHT 2006 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: BECKY BARROW
LABOUR announced yesterday that it has decided against scrapping ISAs.
But in a blow to millions of savers, the annual limit for deposits in the tax-free accounts remained frozen at [pounds sterling]7,000.
It means the tax-free limit has been unchanged for seven years, leading experts last night to accuse the Government of eroding Britain's savings culture.
Ed Balls, the Economic Secretary to the Treasury, said yesterday that Individual Savings Accounts will become 'a permanent feature of the savings landscape', ending Labour threats to axe them by 2010.
However he refused to say whether the [pounds sterling]7,000 limit would be ...