Don't want to get into politics in GD but they want investment in UK companies. That's not a good deal for peoples money.
Best savings account?
- Thread starter Merlin5
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Soldato
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I know. it's crossed my mind but for now i am sticking with plan A.
however it won't take much to just screw it tbh.
my job ends in just under 12 months time. I could just sod it and burn through my savings for 10 years if I wanted
it would leave me with very little but would be a nice 10 years !!
Soldato
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for me to invest in UK companies I would need faith (or government guarantees) in the future of them. that is why I like cash ISAs. sure the returns are not great but it's safe.
5% tax free is just about worth doing. 5% with tax isn't (imho)
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Still better than cash long term though. And part of the underperformance is because the local market has no local investors.
That is just going to lend more weight to the "Boomers pulling up the ladder after themselves" opinions TBH
Soldato
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and i can totally see why young people would think that .
lower housing costs, more employment earlier retirement , not having to worry about the environment and potentially better savings options. it's no wonder some young people are bitter.
mind you the sweet spot was my parents generation (and to a point my generation as well) my grandparents /great grandparents had the small matter of 2 world wars and incredible poverty to worry about
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Think ISA limits were simplified in 2015, before that cash limit was significantly lower than the S&S limit. Its only really the last 2 years when the cash ISA even became viable really.
Soldato
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but you have to question WHY we have no local investors. make UK business attractive to invest in and people will invest.
Probably want to push people to S&SISAs to get people investing in the UK stock market again.
Does anyone remember the UK cash ISA that was talked about a few years ago?
The idea was you could put 5k into it above the yearly 20k allowance, giving you a total yearly allowance of 25k.. But the UK isa was purely in UK investments...
The idea was dead in the water as the projected returns were less than a bog standard savings account, despite the tax free perk...
The idea was you could put 5k into it above the yearly 20k allowance, giving you a total yearly allowance of 25k.. But the UK isa was purely in UK investments...
The idea was dead in the water as the projected returns were less than a bog standard savings account, despite the tax free perk...
Started thinking this more and more over last few year for many many separate reasons
But no sensible person would do that... They'd put the money into a global ETF within an S&S ISA wrapper for example... You'd have to be mental to put the lot in UK only.
If they are allowed to...
They want UK investment.
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It would be a pretty big law change to deny UK citizens the ability to invest in anything other than UK stocks, it would be a very draconian political move aswell, that's the kind of thing Russia or North korea would do!
Maybe you'll be allowed to invest, but won't be getting the tax free bit?It would be a pretty big law change to deny UK citizens the ability to invest in anything other than UK stocks, it would be a very draconian political move aswell, that's the kind of thing Russia or North korea would do!
We'll have to wait and see what they come up with.
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It would be a pretty big law change to deny UK citizens the ability to invest in anything other than UK stocks, it would be a very draconian political move aswell, that's the kind of thing Russia or North korea would do!
Would probably not bother with this. Would rather pay 20pc tax and invest where I wanted.
Well exactly - thats why the 'UK' 5k ISA idea fell flat on its face... you'd probably make a loss despite the tax relief, certainly compared to a more diverse investment strategy.
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Reducing cash ISA limits but maintaining the S&S ISA limit would encourage investing into S&S ISAs instead, some of that money would end up invested in the UK stocks, even if it's only 10-20%. But yes, UK stocks have a wretched performance.
Edit : Seemingly the idea was mooted by “city executives” in a recent meeting with Rachel from Accounts to discuss boosting economic growth.
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Nobody is denying the ability... but it makes no sense for the UK to provide huge tax breaks for people investing in the US. When you think it about it its actually insane, then when you add on top UK stamp duty means its more expensive for people to purchase UK stocks. Crazy.It would be a pretty big law change to deny UK citizens the ability to invest in anything other than UK stocks, it would be a very draconian political move aswell, that's the kind of thing Russia or North korea would do!
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