Savers Rush to Cash ISAs Amid Budget Speculation
Update: 2025-12-01
Description
Savers rush to deposit record amounts into cash ISAs, anticipating potential tax allowance cuts in the upcoming Budget. This surge in deposits, totaling four point two billion pounds in October, marks the highest monthly inflow since April. The trend suggests a strategic move to maximize tax-free savings, with many anticipating a reduction from twenty thousand pounds to twelve thousand pounds. The increase is also reflected in broader savings trends, with household deposits across all accounts rising by eight billion pounds in October. This indicates a general move by the public to save more, possibly in anticipation of economic shifts or to take advantage of current interest rates before any policy adjustments.
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