Approximately £300bn sits unproductively in this absurdly generous savings pot, offering shelter from the taxman to the tune of £20,000 every single year per adult, for no benefit to the government.
https://uk.finance.yahoo.com/news/cash- ... 56132.html
....sits unproductively in this absurdly generous savings pot,......This is unacceptable – every tax break comes at a cost to the Government and each one should result in a net gain for the nation.
Scuse my ignorance, but the banks that take the money and offer derisory albeit tax-free rates in return are surely not parking the cash in suitcases under their beds, are they?
If they didn't make money form this cash, then they wouldn't offer them.
Steve - hardly anything in Cash ISAs these days.