Cash Isa reforms spark debate over how best to encourage a nation of savers and investors
From the Newshound archive · first published 31 October 2026.

Chancellor John Healey's Autumn Budget on October 28 raised the tax rate on savings interest by four percentage points — double the two-point hike originally planned — hitting millions of ordinary savers with bills they never expected.
Basic rate taxpayers will pay 24%, higher rate 44%, and additional rate taxpayers 49% on interest above their personal allowance from April 2027.
Healey also announced a new 'Starter ISA' in the Budget speech, the seventh new ISA product announced by a chancellor since 2010, with details still to be confirmed.
