Comments by "Tony L" (@tlangdon12) on "The City wants an end to cash ISAs, and that would be a mistake" video.

I think your idea that we need to connect the act of saving and the consequences of doing so is correct. It's our money and if it is being used while we don't need it, we should be engaged with how it is being used. I like the idea of a regional ISA - such that if I have an affinity with my home town where I no longer live but want to support its regeneration, I can invest in the ISA tthat will benefit that community. Most people will, of course, invest in the community in which they currently live, but there is the option to support another community if you wish.
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The UK ISA regine is incedibly generous. Few other countires have such generous tax breaks on personal savings. A limit on the total amount of tax-exempt savings would seem a reasonable option, but people need to have some cash savings. The city is misguided in thinking that limiting how much can be put into ISA will increase the investment in stocks and share. People crave the certainty of cash. Cash in the bank should be safe.
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