As millions face financial uncertainty, TISA urges Chancellor to take action to restore confidence and resilience
With household budgets under pressure and financial confidence at its lowest in years, The Investing and Saving Alliance (TISA) is calling on the Chancellor to use the Autumn Budget to deliver targeted reforms that help people regain control of their finances and plan for the future.
In its Autumn Budget Representation, TISA outlines its proposals to strengthen financial resilience, with a particular focus on protecting the £20,000 cash ISA allowance, finalising the Targeted Support regime, and expanding financial education in schools.
Carol Knight, CEO of TISA, said:
“People across the UK are feeling the strain, as rising costs, economic uncertainty and complex savings, investment and pension tax policies make it harder than ever to save and invest with confidence. The Autumn Budget is a pivotal opportunity to rebuild trust and provide the practical tools people need to take control of their financial futures. By protecting valued products like the cash ISA, reaching disengaged consumers through Targeted Support, and investing in financial education, the Government can help millions of people build resilience and take back control of their financial futures.”
In its recommendations, TISA firmly warns that reducing the cash ISA limit would penalise savers and undermine trust in one of the UK’s most widely used savings products. Instead, it urges the Government to maintain the current allowance and focus on helping consumers transition into investing when appropriate, through improved risk warnings and inclusive communications.
The submission also calls for urgent progress on finalising Targeted Support, which will make help with financial decision-making more accessible and affordable for the mass market. This regime is essential for bridging the growing advice gap and ensuring people can make informed decisions about their money. TISA strongly advocates for appropriate exemptions from the Privacy & Electronic Communications Regulations to ensure Targeted Support can reach its intended audience.
Finally, TISA recommends dedicated funding for financial education in schools, matching the £320 million currently allocated to PE and sport. Research suggests this could inject up to £7 billion into the UK economy annually by improving financial capability from an early age so individuals can navigate financial challenges, avoid costly mistakes, and make confident decisions throughout their lives.
ENDS
Notes to Editors
- TISA’s full Budget Representation is available on request.
- TISA is a not-for-profit membership organisation committed to improving the financial wellbeing of all UK consumers by working collectively with the financial services industry to deliver solutions and champion innovation, for the benefit of people, our industry, and the nation.
- TISA has approximately 270 member firms involved in the supply and distribution of savings and investment products and associated services. Members include the UK’s major investment managers, retail banks, online platforms, insurance companies, pension providers, distributors, building societies, wealth managers, third party administrators, FinTechs, financial consultants, financial advisers, industry infrastructure providers and stockbrokers.