City welcomes reports Healey will reverse cuts to cash Isa allowance in the budget – business live

Rolling coverage of the latest economic and financial news What to expect from John Healey’s first budget: who wins, who pays? Budget 2026: six charts that reveal the economic realities facing the chancellor Winston Ruddick, senior financial planner at financial services consultancy Broadstone, argues that protecting the £20,000 Cash ISA allowance is “welcome news for savers”.

Ruddick says reversing the planned cut to £12,000 will help people build tax-free savings without taking on the additional investment risk of putting money into the stock market: “While encouraging more people to invest is a sensible ambition that could boost long-term returns and channel more capital into UK equities, restricting access to tax-efficient cash savings was always a blunt instrument to achieve this. “Cash ISAs are a simple, accessible and widely understood savings product, often providing a first step towards building longer-term savings habits and financial security. They play a vital role in financial planning, particularly for those with shorter-term savings goals or a lower appetite for risk. “The Chancellor has squandered a golden opportunity to help British households build long-term wealth and get more money flowing into the businesses that drive our economy. At a time when Britain…