Martin Lewis issues urgent two word message on Cash ISAs amid fears for popular savings accounts

dailyrecord.co.uk:

Cash ISAs remain a top choice among savings products, allowing individuals the opportunity to save up to £20,000 annually without incurring tax.

However, amidst rumours that the government might clamp down on Cash ISA accounts due to revenue deficits from taxes, Martin Lewis has stepped in to quash concerns regarding the future of these tax-free savings vehicles.At present, savers can invest £20,000 each year into an ISA, or divide it among several ISAs, hitting a collective maximum of £20,000.

With anxiety mounting over the possibility that Chancellor Rachel Reeves could slash Cash ISAs to amplify tax proceeds, Martin Lewis provided an important update via X to those with funds in a Cash ISA.He shared: "A lot of people are asking me 'what's the news with ISAs thresholds, are they being cut?'"The answer is there is no news, there's lots of speculation written up as news, but absolutely zilch has been announced.

In fact I doubt anything has been decided yet, though it is being discussed."He went on: "To those asking should I take money out of ISAs.