O/T isa

[Eternal Optimist]

The answer is Bit-coin.

[KerrAvon]

I did say it?s a possibility. My issue is that again people who have worked hard are being targeted it?s a quick win just tax and more tax for the working.
How much revenue will it generate?
How much we spending on carbon capture?
How much we spending on Ukraine?
I could go on.
An ISA with ?20,000 in is not super rich it?s for hard working people to have. This government doesn?t like that though it?s a resentment that they need to act on and give it to ? Well not the hard working that?s for sure.

So you say it's only a possibility and then get cross about it again.... Isn't that a bit of a waste of nervous energy?

I agree that an ISA limit of 20, 000 p.a. is not a super rich thing, but it's beyond the reach of many people as is the 4,000 p.a. limit that us being talked about for cash ISAs.

The move wouldn't generate any additional government revenue if investors invested their 'extra' 16k in stocks and shares ISAs after putting 4k in a cash ISA. The idea isn't about government revenue- its about putting the money to work by investing in businesses.

[Yak]

So you say it's only a possibility and then get cross about it again.... Isn't that a bit of a waste of nervous energy?

I agree that an ISA limit of 20, 000 p.a. is not a super rich thing, but it's beyond the reach of many people as is the 4,000 p.a. limit that us being talked about for cash ISAs.

The move wouldn't generate any additional government revenue if investors invested their 'extra' 16k in stocks and shares ISAs after putting 4k in a cash ISA. The idea isn't about government revenue- its about putting the money to work by investing in businesses.

How can you tell I?m cross Kerr ? 😁 I know you are intelligent but psychic ability surely not. I?m just writing an opinion like you so are you cross?
The interesting part in your response is it?s beyond the reach of many people. Spoken like a true left wing advocate. Why should the ones who can afford something that you agree aren?t for the super rich suffer. Where is the incentive to work towards that?
Penalising people who may have worked incredibly hard to reach that goal for me just doesn?t make sense. It?s a fundamental ingrained desire of the left of no you can?t have that it?s a resentment in my humble opinion.

[KerrAvon]

How can you tell I?m cross Kerr ? 😁 I know you are intelligent but psychic ability surely not. I?m just writing an opinion like you so are you cross?
The interesting part in your response is it?s beyond the reach of many people. Spoken like a true left wing advocate. Why should the ones who can afford something that you agree aren?t for the super rich suffer. Where is the incentive to work towards that?
Penalising people who may have worked incredibly hard to reach that goal for me just doesn?t make sense. It?s a fundamental ingrained desire of the left of no you can?t have that it?s a resentment in my humble opinion.

Forgive me, you're clearly very happy about the proposal, which is why you started the thread and said what you did...

You don't need to be psychic see the bleeding obvious. Or at least, I don't.

I'm not saying that anyone should 'suffer' and nor would I want them to. Even though you label me left wing, I have the good fortune to have a decent income and use. ISAs to save.

Personally, I don't see that anyone in particular is going to 'suffer'. If the proposal actually materialises in the manner that has been speculated then it's only going to affect cash ISAs. In other words, people with the means to do so will still be able to bung 20k p.a. into ISAs, it's just going to mean that they will be restricted to 4k into a cash ISA and the rest into a stocks and shares ISA- so still 20k p.a. into a tax free savings scheme.

I accept that some people might not want the higher level of risk associated with stocks and shares ISAs, but you have to earn quite a lot of interest in a non- ISA savings account before tax kicks in (1000k p a. for a basic rate taxpayer and 500k p.a. for a higher rate taxpayer, I think), so the number of people who are actually going to be financially inconvenienced is probably vanishingly small.

[KerrAvon]

I would add that I have seen nothing to suggest that the policy is based on resentment. Surely they would just abolish ISAs altogether if that were their aim?


The proposal simply tinkers with ISAs in a manner designed to drive investment.

[Yak]

Forgive me, you're clearly very happy about the proposal, which is why you started the thread and said what you did...

You don't need to be psychic see the bleeding obvious. Or at least, I don't.

I'm not saying that anyone should 'suffer' and nor would I want them to. Even though you label me left wing, I have the good fortune to have a decent income and use. ISAs to save.

Personally, I don't see that anyone in particular is going to 'suffer'. If the proposal actually materialises in the manner that has been speculated then it's only going to affect cash ISAs. In other words, people with the means to do so will still be able to bung 20k p.a. into ISAs, it's just going to mean that they will be restricted to 4k into a cash ISA and the rest into a stocks and shares ISA- so still 20k p.a. into a tax free savings scheme.

I accept that some people might not want the higher level of risk associated with stocks and shares ISAs, but you have to earn quite a lot of interest in a non- ISA savings account before tax kicks in (1000k p a. for a basic rate taxpayer and 500k p.a. for a higher rate taxpayer, I think), so the number of people who are actually going to be financially inconvenienced is probably vanishingly small.

You sound well bleeding cross Kerr 😊 sorry I had to say it.
Appreciate the response on the motives of this dictatorship sorry government. I don?t agree but I respect your opinion.

[frogmiller]

I thought ISAs were an encouragement to save!

It seems that the proposal is against that to a degree.

Please invest in the stocks and shares of the FT100 or other more risky ventures so that the money goes to companies that allows for them to invest or give dividends. Which you will get your little share of.

[millersrus]

Reducing the cash ISA limits may be an inconvenience for some but within a stocks and shares ISA money can be invested in very low investment, MMF money market funds for short term and Gilts. Gilts held to maturity, no risk as you get your money back. They pay interest while you hold them. Just pick the rate / maturity you prefer.
They are simple to buy and sell.

[frogmiller]

Reducing the cash ISA limits may be an inconvenience for some but within a stocks and shares ISA money can be invested in very low investment, MMF money market funds for short term and Gilts. Gilts held to maturity, no risk as you get your money back. They pay interest while you hold them. Just pick the rate / maturity you prefer.
They are simple to buy and sell.

How does the money get into the economy?

The way it looks like to a saver might be - why should I bother saving? Should I not benefit now using the money now?

In which case the money enters the economy and the economy grows.

After all this measure was being advised to the Karen from accounts as a way of economic growth.

[millersrus]

How does the money get into the economy?

The way it looks like to a saver might be - why should I bother saving? Should I not benefit now using the money now?

In which case the money enters the economy and the economy grows.

After all this measure was being advised to the Karen from accounts as a way of economic growth.

Might be the reason behind it. Get people to spend more, it counts towards GDP.
Downside risk though as increased spending, people chasing the same products will result in prices going up and of course that’s inflation.