New data from the Bank of England has found that Britons are flooding millions of pounds in savings into ISAs amid rumours of a potential tax raid from Chancellor Rachel Reeves.
Some £6.7billion was placed into cash ISAs in November 2025, which is four times the monthly average for November, as Budget speculation suggested Ms Reeves was floating cuts to the tax-free allowance.
While these reforms to the tax regime did not come to fruition, ISAs have been revitalised as an ideal savings vehicle for bank customers looking to avoid HM Revenue and Customs (HMRC).
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