“Cutting Cash ISA limits won’t suddenly turn savers into investors. Our research shows 87% of ISA holders would stick with cash, with most redirecting excess funds into savings.
“But these policy changes should drive meaningful behaviour change, by putting a stronger focus on financial literacy and more advice-led, tailored investment products that help savers feel confident about diversifying beyond cash. We welcome that the Chancellor has acknowledged this, but do note that adding complexity to a simple product risks undermining the popularity of ISAs overall.”
-ENDS-
Notes to editors:
Petra Shuttlewood, Corporate Communications
Tel: +44 (0) 7935 350724
Email: Petra.Shuttlewood@KPMG.co.uk
Christina Bridge, Corporate Communications
Tel: +44 (0) 7789504905
Email: Christina.Bridge@kpmg.co.uk
Gerard Swinley, Corporate Communications
Tel: +44 (0) 20 3078 3948
Mob: +44 (0) 7510 375540
Email: gerard.swinley@kpmg.co.uk
KPMG UK media relations
Tel: +44 (0) 207 694 8773
About KPMG in the UK:
KPMG LLP, a UK limited liability partnership, operates across the UK with approximately 17,000 partners and staff. The UK firm recorded a revenue of £2.99 billion in the year ended 30 September 2024.
KPMG is a global organisation of independent professional services firms providing Audit, Legal, Tax and Advisory services. It operates in 143 countries and territories with more than 275,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.