UK households put a record £103bn into Isas amid ‘dash for cash’
by Zoe Wood from World news | The Guardian on (#7057X)
Figures show 15m more tax-efficient savings accounts were opened in 2023-24, with more following as fears grew allowance might be cut
British households stuffed a record 103bn into tax-efficient individual savings accounts, according to annual figures that underline the strong appetite for the certainty of cash over stock market investments.
Savers opened 15m Isas in the 2023-24 tax year, up from 12.4m the year before and the highest level for 13 years. The spree was driven primarily by a rise in demand for the cash Isas, rather than the stocks and shares version.
Continue reading...