Budget – mixed news for ISAs
Responding to the ISA announcements in the Budget TISA Director General Tony Vine-Lott says:
“The announcement that from April 2012 the increase in ISA limits will be based on CPI as the default indexation assumption rather than RPI is disappointing. On a more positive note though, the decision that all children aged under 18 who do not have a Child Trust Fund will be eligible for the new Junior ISA is extremely encouraging, as is the commitment to identify how children in care can be supported through Junior ISAs.”
Further details on the draft regulations for Junior ISAs are expected to be published next week.
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 120 member firms involved in the supply or distribution of products. TISA’s remit extends across the broad spectrum of government sponsored savings and investment vehicles.