Welcome News for ISA Savers
November 2nd, 2006
Finally some news from the government that we can all agree on.
Treasury Minister and close ally of Gordon Brown Ed Balls has indicated that the government will keep ISAs as a mainstay of UK investing for the foreseeable future with the aim of making them a key tool in creating a saving culture.
Since they replaced PEPs (Personal Equity Plans) in 1999, around 16 million adults have invested close to £215 billion in ISAs.
Moving forward ISAs will retain their £7,000 savings limit but the distinction between a mini and maxi ISA may disappear, and once matured, Child Trust Funds will have the option of being converted into an ISA.
For more information on ISAs and other investment types visit Torquil Clark Investments
Author: Philippa Gee
November 2nd, 2006
Category: Investments.
