After years of disappointment, a Budget has finally gone the way of savers, with Isa customers and pension members both benefiting from major announcements from the Chancellor.
Gamblers and insurance companies might not be so smug however. This is Money rounds up the big winners and the biggest losers from the latest Budget.
Winners:
Isa savers
It’s been a long-time coming, but finally savers have something to cheer as deeply unpopular restrictions on tax-free savings accounts were loosened. The maximum you can save each year in cash and stocks and shares Isas will rise to £15,000 from July 1, from the current rates of £11,520.
What’s more, all of this can can be saved as cash, a major change from the current rules that limit savings in cash to half of the Isa limit, £5,760. And for the first time, people will be able to move money in their stocks and shares Isas into a cash Isa.
SOURCE: thisismoney.co.uk