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Fears are growing once again that the ISA allowance of £20,000 could be cut ahead of the Autumn Budget.

Sarah Coles, head of personal finance at Hargreaves Lansdown, said: "There are all sorts of people for whom the £20,000 cash ISA allowance is a vital lifeline at key moments during their life.

"Even someone on a relatively modest retirement income can benefit enormously from the full cash ISA allowance."

Earlier this year, there were fears Chancellor Rachel Reeves could cut ISA limits from £20,000, potentially to as low as £4,000.

Ms Reeves said: “I do want people to get better returns on their savings, whether that’s in a pension or in their day-to-day savings”.

She added that she would not “reduce the £20,000 Isa limit”, but did not rule out cutting the allowance for c

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