Reform’s Zia Yusuf warns Rachel Reeves over ‘unbelievably stupid’ move | Politics | News

Zia Yusuf of Reform UK warned Rachel Reeves against reducing cash. The chancellor is reported to be preparing to announce plans to limit the limitation of exemption from 20,000 £ 20,000 annually.

However, Mr. Yusuf, who chaired the Reform’s Government Productivity Department (Dogge), wrote to X: “Incredibly stupid from Reeves. Punish the segment of the society that really saves.

The chancellor is expected to announce its plans to reduce cash in the Konak home speech next month.

Ms. Reeves is said to believe that the movement, reported by Financial Times, will encourage savings from cash to shares from cash to the increase in the economy of England.

Since it was introduced in 1999, it would have been the biggest revision of Isas.

Mrs. Reeves confirmed that there is no plan to reduce the total amount that can be paid to ISA products every year last month.

However, cash did not cut the appropriation of ISAs.

He said: “Whether in daily savings, I want people to get better return than their savings,” he said.

A Treasury official confirmed that the government is “looking at options for reforms that provide the balance between cash and stock to Isas”.