In an otherwise lacklustre Budget for business, the chancellor had two announcements to address Britain’s struggling stock market and the desperate lack of investment capital.
First, and most eye-catching, was the launch of a “British ISA”: an extra £5,000 tax-free saving allowance – on top of the usual £20,000 – for savings invested in UK shares.
Broker AJ Bell immediately put its finger on the problem: you can already choose to invest in UK stocks through the ISA existing allowance, and many savers do. However, only a tiny minority max out that allowance.
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