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Prime Minister moots Isa changes

Prime Minister Gordon Brown has hinted that increased Isa allowances might be granted in the Budget.

Speaking on the BBC Radio 4, the Prime Minister discussed Isa accounts, and the possibility of an increase in the allowances.

Brown said the Government is looking at how Isas can be made more attractive for savers in the future.

He said the Budget was likely to include announcements on additional savings incentives.

Hargreaves Lansdown senior analyst Meera Patel says: “We’ve always thought that the current limit is too low. I would like for it to be around the £10,000 level. While not everybody has £10,000 to invest, for those who do it is a fantastic way to shelter their money efficiently.”

Reflecting on the decision to increase the original allowance amount from £7,000 to £7,200, Patel says: “It was such a let down because we were hoping that it would be a much more substantial figure to make a real difference.”

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