Several industry figures warned that the reforms could amount to a stealth tax on savers who use cash holdings as part of a sensible investment strategy.
Yael Ossowski, deputy director of the Consumer Choice Centre, argued that the move fundamentally changes the purpose of ISAs as a tax-free savings vehicle.
He said ministers were effectively asking savers to pay tax on the safest assets held within an account specifically designed to shelter savings from the taxman, describing the measure as a “stealth tax on cautious savers” that could push risk-averse households into investments they may not otherwise choose.
read more here: https://www.independent.co.uk/money/stocks-shares-isa-tax-interest-treasury-reeves-b3002900.html
