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BSA calls on Treasury for Isa rethink

The Building Societies Association is calling on the Government to rethink its proposals to cut the annual subscription limit for Isas.

The BSA is concerned the Treasury intends to cut the annual limit for the maxi ISA from £7,000 to £5,000 and the mini cash ISA from £3,000 to £1,000 in April 2006.

BSA director general Adrian Coles says: “Isas have really taken off, and we are seeing more and more people saving into Isas because they know they are tax free. Without this incentive many people will simply stop saving.”

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