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‘Keeping Isa limit is not enough to encourage savers’

Investment experts say the Chancellor needs to do more than extend the existing Isa limits to 2010 to encourage long-term saving.

In his pre-Budget announcement, Chancellor Gordon Brown had agreed to consult on extending the existing £7,000 tax-free Isa limit for another five years to 2009 and Wednesday’s Budget extends that timescale by a year.

But Bestinvest business development manager Justin Modray says the removal of the 10 per cent tax credit on Isa dividends last year, coupled with the continued volatility of equity markets, has already been the death knell for equity Isa sales.

F&C communications director Jason Hollands is pleased the Chancellor did not lower Isa limits to £5,000, as had been suggested last year, but thinks he should have gone further by raising the allowance or at least opening up the possibility.

Brooks Macdonald director Alistair Butt says: “They acknowledge that there is a savings crisis but want to cap the tax-free savings opportunities for conservative savers at £3,000 a year. That is hardly an incentive to save.”


Fidelity poaches Speake to boost IFA marketing team

Sarah Speake has joined Fidelity to head up its intermediary marketing team.
Speake joins from Henderson Global Investors, where she was latterly marketing and product management director, and will report into Fidelity head of UK distribution, Michael Jones.
Speake also previously worked Save and Prosper and GT Management.

Le Brocq picks up The Bill

Building Societies’ Association press officer Rachel Le Brocq had a magical night at the What Mortgage Awards last week after spotting her favourite man in uniform, Graham Cole who plays PC Tony Stamp in The Bill. He was seen hiding behind a large plant pot while Rachel scoured the dancefloor for him. Finally nabbing him, […]


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