Nationwide calls for new changes to Isas

Building society Nationwide is calling for the government to amend Isa account regulations.

The 2007 Budget raised current Isa limits from £3,000 to £3,600 for cash Isas and from £7,000 to £7,200 for stocks and shares Isas.

Nationwide feels more changes need to be made. The building society is calling for equal limits on equity and cash Isas and for the Isa limit to be raised even further in accordance with inflation.

Matthew Carter, Nationwide’s director of savings, said: “The government has removed some of the difficulties associated with the Isa system however we feel that more can still be done to encourage savers to make full use of their Isa remove allowances.”

The building society also urged the chancellor to allow savers to convert all or part of their equity Isas into cash.

Commenting on the 2007 Budget in July, economic secretary Kirsty Ussher said that over 17 million people now invest in Isas and that the government plans to make them simpler and more flexible to use.

© Adfero Ltd

Leave a Reply

Your email address will not be published. Required fields are marked *