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A warning has been issued over a new cash ISA limit which is DIFFERENT to what had been mooted. Labour Party Chancellor Rachel Reeves could limit cash ISA allowances to £12,000 - not the £10k previously reported.

But Plum data shows that 68 per cent of British cash ISA holders reject rumoured proposals to slash the annual tax-free allowance on November 26. Victor Trokoudes, Plum's founder and chief executive, has issued a warning.

Rather than channelling funds into UK equities as intended, the changes might drive capital towards American companies, according to the chief executive.

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37 per cent of respondents indicated they would shift funds to standard savings accounts, while 20 per cent would use

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