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Fidelity calls for rise in annual Isa limit

Fidelity UK managing director Richard Wastcoat has called on the Government to raise the annual investment limit for Isas.

Wastcoat welcomed economic secretary Ed Ball’s confirmation that Isas would be made permanent after 2010, but asked for the Government to consider raising them from their current £7,000 level.

Since their launch in 1999, UK consumers have opened 16m Isas and invested more than£190bn in them.

Wastcoat says: ” If the Government is serious about their intention to foster a long-term savings mentality among the British public then they need to make it worthwhile for them to do so.”

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