Halifax: Isas have dominated the decade

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Halifax: Isas have dominated the decade

Wed 17th Feb 2010

The amount of people taking out Isa accounts in the past ten years has increased by 53 per cent, according to Halifax.

Figures from the company show that Isa take up was at 9.3 million in 1999-00, but the numbers are now up to 14.2 million in the year 2008-09.

The building society has found that 37 per cent of households now have at least one Isa account, with the under 25s being the age group that have proven most responsive to the scheme.

Suren Thiru, economist at Halifax, commented: "It's encouraging to see that the youngest savers are also keen to benefit from the tax-free status the Isa wrapper offers with growth highest amongst the under 25s."

There could be a whole new generation of youngsters looking to invest in Isas in years to come, as Halifax has also found that children in the UK have an average of £1,064 held in accounts on their behalf.

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