Rachel Reeves could be about to cut the limits that people in the UK can save into a cash ISA, with the current limit of £20,000 per year potentially facing a dramatic reduction to £4,000.
Currently, the £20,000 allowance per person is the total for across all Isa products - including lifetime, or stocks and shares among others - but individuals are free to decide how to allocate the amounts they save or invest in each (within allowed limits) according to preference, need or risk tolerance.
