Treasury written question – answered at on 26 January 2026.
Dr Caroline Johnson
Shadow Minister (Health and Social Care)
To ask the Chancellor of the exchequer, what assessment her Department has made of the potential impact of recent and proposed changes to ISAs on the complexity of the savings landscape and household saving behaviour.
Lucy Rigby
The Economic Secretary to the Treasury
This is about making people’s savings work harder for them and for the economy. The UK has the lowest level of retail investment in the G7, with fewer than 1 in 10 people owning shares compared to 1 in 5 back in 1990. In Sweden, that figure rises to 2 in 5 people currently.
That is why the government is keeping the full £20,000 ISA allowance for investment and setting the cash ISA limit at £12,000 from April 2027.
This is part of our wider strategy aimed at supporting people to get into investing, including Targeted Support, which will be available from April 2026.
The OBR have provided a forecast of household saving in their November Economic and Fiscal Outlook
Yes0 people think so
No1 person thinks not
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The chancellor of the exchequer is the government's chief financial minister and as such is responsible for raising government revenue through taxation or borrowing and for controlling overall government spending.
The chancellor's plans for the economy are delivered to the House of Commons every year in the Budget speech.
The chancellor is the most senior figure at the Treasury, even though the prime minister holds an additional title of 'First Lord of the Treasury'. He normally resides at Number 11 Downing Street.
