John Healey says UK faces ‘difficult moment’ as he prepares to deliver first budget of Andy Burnham’s government
Here are pictures of ministers leaving No 10 after cabinet this morning.
None of them are looking particularly glum.
We welcome John Healey’s decision to reverse his predecessor’s controversial plans to slash the annual cash ISA allowance from £20,000 to £12,000. We have consistently argued that cutting the allowance was unlikely to achieve the government’s ambition of encouraging more people to invest, and risked making the stocks and shares ISA – the very wrapper it wants people to use – less attractive.
The decision to retain the full Cash ISA allowance is a sensible one. Whilst there is a legitimate policy objective in encouraging more people to invest for long-term growth, reducing the allowance risked being perceived as penalising sensible saving behaviour rather than promoting investing.
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