Here’s when Rachel Reeves will unveil the details of her cash ISA cuts

• Rachel Reeves is expected to announce plans to reduce the annual allowance for cash ISAs in her Mansion House speech on 15 July.
• The proposed reform aims to encourage individuals to invest more and achieve better long-term returns, rather than solely holding cash.
• While the overall £20,000 tax-free ISA allowance will not be cut, the specific limit for cash ISAs is under discussion, marking the first major alteration since 2017-18.
• The move has drawn criticism, with Martin Lewis stating it could lead to more tax for ordinary savers and expressing concern that it might not effectively encourage investment.
• Industry voices like AJ Bell advocate for broader reforms, such as simplifying the ISA landscape and removing stamp duty, to genuinely encourage investment rather than just cutting Cash ISA limits.

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Rachel Reeves set to cut cash ISA allowance in blow to savers — here’s what you need to know