I’ll be honest. In the weeks leading up to the Budget, when it became clear that Rachel Reeves was going to cut the cash ISA annual limit to £12,000 , I found it hard to get too irate.

Very few people can save more than £12,000 each year anyway I thought. And if they can, it makes sense that many would want to invest that money anyway.

After all, investing – if done right – generally leads to better returns than cash savings anyway. New Feature

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I still thought the same when the measure was announced in the Budget, although it seemed a little unfair that over-65s were having a carve-out allowing them to continue to put £20,000 in cash savings tax-free, unlike the rest of us.

My opinions changed on Friday, when details of how the pol

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