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Isa Tax Breaks Extended to 2010

Chancellor Gordon Brown extended existing tax breaks on Isas until 2010 in his budget speech today.

Limits are currently set at £3,000 a year for cash-only Isas, and £7,000 for equities. The extension of tax breaks brings the cumulative total that could be saved tax free since 1997 to over £100,000.

Brown said: “The household savings ratio is now 5.6 per cent – four times that of the USA and Canada – and 16 millions now have Isas.”


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