Major savings providers have pledged to fight any attempts to cut tax breaks on cash Isas after it emerged the government was considering a proposal to slash the maximum amount that people can put into them from £20,000 a year to £4,000.
In recent weeks a row has broken out over whether ministers should scale back tax breaks on the popular savings accounts. The chancellor, Rachel Reeves, is being lobbied by some fund managers to put more focus on the riskier practice of investing in the stock market as a way of boosting economic growth.
