Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

British ISA Plans in Limbo Following Sunak’s Election Call

by May 25, 2024
May 25, 2024
British ISA Plans in Limbo Following Sunak’s Election Call

The government’s flagship City reform initiatives, including the rollout of the British ISA and the Pisces private market, face uncertainty following Prime Minister Rishi Sunak’s decision to hold an early election in July.

Over the past two years, ministers have pursued significant changes to City policy, but consultations on these landmark plans are now at risk as political focus shifts towards the upcoming election.

Treasury sources confirmed that the government has already shelved the much-anticipated retail sale of its stake in NatWest, previously touted as a means to revitalise retail investment in the UK. Chancellor Jeremy Hunt had announced plans for a British ISA to encourage British investors to support the stock market through tax breaks. However, the response to the consultation, which was due to run until 6 June, will be delayed until after the election.

Labour has yet to comment on the British ISA plans, and it remains unclear if the party will support the reforms if elected. A Treasury source indicated that “everything is under review.”

Other measures affected include the Pisces market, a proposed hybrid public-private stock exchange designed to provide private companies with better access to UK capital markets. The market, developed in conjunction with the London Stock Exchange, was aimed for launch later this year. City Minister Bim Afolami highlighted the platform’s potential to bridge the gap between public and private markets. However, a consultation on the plans ended on 17 April, and the Treasury has not yet published a response. Labour has not formally supported the initiative, and the Treasury did not comment on its future.

The snap election has disrupted the government’s wider legislative agenda, forcing Parliament into a so-called wash-up period, where a limited number of bills are prioritised before it is prorogued. This situation casts doubt on several key areas of the reform package, including an anticipated update on pension investment plans from Jeremy Hunt at the Mansion House summit in July.

While some reforms, such as changes to listing rules, will proceed as planned this summer, many of the government’s ambitious City reform efforts now hang in the balance. This uncertainty poses a potential setback to the Conservative Party’s business strategy and its appeal to investors and stakeholders in the financial sector.

Read more:
British ISA Plans in Limbo Following Sunak’s Election Call

0
FacebookTwitterGoogle +Pinterest
previous post
Inheritance Tax Conflicts with Conservative Values, Says Hunt
next post
Ofcom Investigates Royal Mail for Missing Delivery Targets

You may also like

Watchdog bans Gemma Collins advert promoting headset to...

August 7, 2024

Apple pull the plug on self-driving electric car...

February 28, 2024

Transform Your Bathroom with These 5 Close Coupled...

May 9, 2023

Frasers group launches £83m takeover bid for mulberry...

September 30, 2024

Advice: How to choose the right university as...

February 15, 2024

Angling Direct’s sales dry up amid falling water...

August 19, 2022

Google for Startups unveils the 10 Black-led UK...

June 12, 2023

Businesses Struggle with AI and Green Tech Amid...

June 20, 2024

Selfridges losses narrow amid further calls for return...

October 12, 2023

Dragons Den entrepreneur smashes crowdfunding target after rejecting...

May 16, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,568)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved