Tisa welcomes Isa changes

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Tisa welcomes Isa changes

Fri 28th Mar 2008

The Tax Incentivised Savings Association (Tisa) has said that changes to individual savings account (Isa) rules will encourage long-term savings.

Chancellor Alistair Darling announced the reforms to the Isa system during his Budget speech earlier this month, including a measure to allow savings in cash Isas to be moved into stocks and shares without affecting annual subscription limits.

In a statement, Tisa argued that this was "good news for those who are concerned about investing now but are optimistic about more favourable market conditions later in the year".

The group recommended that people continue to save money despite market instability, in order to provide a nest egg for the future.

Tony Vine-Lott, Tisa's director-general, said it "continues to be optimistic about Isa savings this tax year".

Earlier today, the Post Office reported that people are finding it increasingly difficult to save money as living costs rise.

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