UK chancellor drops planned cash ISA cut, keeps £20,000 annual limit

At his Oct. 28 Budget, UK Chancellor John Healey said the annual tax-free cash ISA limit would stay at £20,000 for all ages, Money Marketing reports. Regulations for a £12,000 under-65 limit were due to take effect April 6, 2027, and must be changed to preserve the current limit, the publication says. Healey also proposed developing a Starter Isa for first-time investors.