All we know about the UK’s Starter ISA so far as Martin Lewis weighs in on ‘potential boost’

• Chancellor John Healy announced plans for a new Starter ISA to encourage first-time investors while maintaining the annual tax-free Cash ISA limit at £20,000.
• Financial expert Martin Lewis suggested offering a 10 to 15 per cent bonus on initial investments of up to £3,000 could help nervous investors “dip their toes in the water”.
• Mr Lewis highlighted that combining introductory bonuses with basic investment education could effectively encourage young people onto the investment track.
• Personal finance experts raised concerns that introducing another ISA product could overcomplicate the existing ecosystem for savers.
• HM Revenue and Customs confirmed that the detailed design of the Starter ISA will be developed through an upcoming industry consultation.

IN FULL

‘Possible boost to investing’: Martin Lewis explains how new Starter ISA could work