Breaking news from the UK budget – Chancellor Darling (right) has just announced that annual ISA allowances will increase with inflation in future years.
The ISA contribution allowance goes up to £10,200 from April 6th. In future years it will go up by inflation.
I’ll update this page with more detail when it’s released.
Whether we’ll see this legislation may depend on the results of the General Election, of course, but I doubt the Conservatives would rescind it.
3 Comments
This is rather long overdue, hope the Tories, sorry, the next government do keep it.
What do you think of the budget overall?
I thought it was a reasonable budget, all things considered. I can see why people say it’s just tinkering around the edges, but with an election within six weeks then (rightly or wrongly) we couldn’t have expected much more. The time when Darling should have been more radical in his budget was last year.
The ISA move is welcome. The stamp duty move is politics, and an attempt to stop a double dip emerging (perhaps before the election?) The job creation for the young stuff may have done something (though I think most of the lower than expected unemployment is due to our more flexible economy) so why not keep at it.
I was pleased to see the guaranteed funding for an extra 20,000 University places only covered the sciences, engineering and maths. I’m all for Labour’s ambition to bring education to everyone in theory, but let’s educate those who want to be educated – and in subjects worth the student debt they’ll accrue – otherwise it’s just making people poorer and raising unrealistic hopes.
It could have been a lot worse. Very pleased to see CGT held in particular. No silly further tax rises, too, as some rather recklessly predicted.
Woah, That guy LOOKS exactly like Barney Frank (Congressman from Mass)
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