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UK Keeps Cash ISA Limit at Twenty Thousand Pounds

British finance minister John Healey has reversed plans to slash the annual tax-free cash savings allowance. The limit will remain at twenty thousand pounds for all investors, supporting banks and building societies.

Britain's Chancellor of the Exchequer, John Healey, leaves No 11 Downing Street carrying the traditional red ministerial box, before departing to the House of Commons to deliver the first budget under Prime Minister Andy Burnham's government, in London, Britain, October 28, 2026. REUTERS/Toby Shepheard

United Kingdom finance minister John Healey reversed plans to cut the annual tax-free cash savings allowance to £12,000, keeping the limit at £20,000. The decision preserves a key funding vehicle for banks and building societies that helps support domestic mortgage lending. The policy shift departs from prior proposals aimed at redirecting household capital into domestic equities.