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Tomorrow, Wednesday, November 26, Chancellor Rachel Reeves will outline the Autumn Budget for another financial year.

This second Labour Party government budget has been the source of much speculation and rumour over what the Chancellor could announce, with cash ISAs once again being targeted.

Currently, the tax-free allowance stands at £20,000 annually, but reports suggest the Chancellor could slash this to £12,000, or as low as £10,000.

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Victor Trokoudes, the founder and CEO of Plum, stated: "It's been reported that Rachel Reeves's plan to reform cash ISAs, slashing the £20,000 allowance to just £12,000 will go ahead."

He warned that "many savers will be pushed into paying tax

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