The chancellor is reportedly planning a radical shake-up of ISAs to encourage people to take advantage of the tax-free products, and boost investment in UK companies.
According to a report in the Financial Times, Jeremy Hunt is considering introducing an additional tax-free allowance for investing in UK companies. This means that on top of the £20,000 annual ISA limit, there could be an extra allowance for holding British shares.
Treasury officials have also met investment industry bosses to discuss merging stocks and shares ISAs with cash ISAs.
