The chancellor has been urged to create a “British ISA” to boost the economy.
In a letter to The Times, a group of investors, brokers, City grandees and chief executives have called on the chancellor to launch a dedicated incentive for backers of UK-listed companies that would put the £70bn invested each year into the tax-efficient savings accounts “to work on behalf of the UK”.
The signatories said it was an “oddity of the current ISA regime” that it “offers the same incentives for savers to invest in overseas as domestic businesses”.
They propose restricting stocks-and-shares ISAs to UK-listed companies.
