BSA - Building Societies Association
BSA - Building Societies Association
07/11/2025 | Press release | Distributed by Public on 07/11/2025 04:01
BSA comments on the news that reform of Cash ISAs on hold
Reacting to today's surprise announcement on Cash ISAs, Robin Fieth, Chief Executive of the Building Societies Association said:
"We welcome today's announcement that the Chancellor will take time to carefully consider any changes to Cash ISAs. This is a good example of HM Treasury actively listening to the industry and committing to a consultation process rather than making hasty decisions.
"Over recent months we have shown that Cash ISAs serve a broad range of practical purposes, from building financial resilience to saving for a first home to managing finances in retirement. These are not idle funds; they provide a vital role for consumers while financial organisations use these funds to support mortgage and other lending.
"We look forward to working collaboratively with the Government to find an approach, which fosters a strong investment culture, whilst also recognising and supporting the needs of those for whom investing may not be suitable."
[ENDS]
"We welcome today's announcement that the Chancellor will take time to carefully consider any changes to Cash ISAs. This is a good example of HM Treasury actively listening to the industry and committing to a consultation process rather than making hasty decisions.
"Over recent months we have shown that Cash ISAs serve a broad range of practical purposes, from building financial resilience to saving for a first home to managing finances in retirement. These are not idle funds; they provide a vital role for consumers while financial organisations use these funds to support mortgage and other lending.
"We look forward to working collaboratively with the Government to find an approach, which fosters a strong investment culture, whilst also recognising and supporting the needs of those for whom investing may not be suitable."
[ENDS]
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