Autumn Statement: double boost for savers
Confirmation that ISA, JISA and CTF subscription levels are to increase and that a consultation on the inclusion of investments in AIM companies within a Stocks & Shares ISA is to be held represent a double boost for savers, according to TISA (Tax Incentivised Savings Association).
Responding to the Chancellor’s Autumn Statement, TISA Director General Tony Vine-Lott says:
“We are particularly pleased that there is to be a consultation on AIM shares and ISAs. It has always seemed to us to be inequitable for these investments to be excluded from a Stocks & Shares ISA and we have made constant representations to have this changed. We therefore fully support the proposal.
“It is also good to have the increase to ISA subscription levels in line with the Consumer Prices Index confirmed. For the first time the increase is being extended to JISAs and CTFs and will provide a welcome boost to children’s savings. The ISA model is a huge success and we must do all we can to build on its popularity to encourage people to save in order to better afford their short and longer term financial needs.”
In April 2011 ISA limits were increased by index linking for the first time. The increase is rounded to the nearest multiple of 120 to enable individuals to calculate their monthly savings more easily.
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For further information, please contact:
Tony Vine-Lott, Director General, TISA – Tel: 01372 374728, Mobile: 07790 006108Email: tony.vine-lott@tisa.uk.com
Issued on behalf of TISA by Cauldron Consulting, contact Steve Radford – Tel: 020 3178 7238, Mobile: 07889 903786 Email: steve.radford@cauldron-consulting.com
Notes for Editors
The Tax Incentivised Savings Association (TISA)
TISA is the premier industry funded body in the UK retail savings and investment industry. By engaging with member firms, government, political parties, regulators and consumer groups TISA’s ultimate goal is always to further consumers’ best interests. It seeks to improve the range, features and quality of savings and investment schemes available whilst encouraging more people to save for their financial security and peace of mind.
Uniquely, TISA is able to articulate the opinions of the whole savings and investments marketplace through its membership comprising over 130 member firms involved in the supply or distribution of products. TISA’s remit extends across the broad spectrum of savings vehicles & services and centralised investment propositions.