Reeves Should Kill All ISAs — Except the British ISA: M.S. Webb

So long, it seems, to the British ISA, or individual savings accounts.

The idea, promoted by former Chancellor of the Exchequer Jeremy Hunt, was to have given investors an extra £5000 ($6,600) allowance a year to invest tax free on top of the current £20,000 – but only to invest in UK-listed companies. That first bit was a perfectly popular idea. The British love ISAs: More than 40% of adults have one; the second wasn’t. Critics noted that adding a new type of ISA would introduce yet more complexity to an already incomprehensible system; that the whole exercise ran the risk of leaving UK investors underdiversified; that ...