Figures show 15m more tax-efficient savings accounts were opened in 2023-24, with more following as fears grew allowance might be cut
British households stuffed a record £103bn into tax-efficient individual savings accounts, according to annual figures that underline the strong appetite for the certainty of cash over stock market investments.
Savers opened 15m Isas in the 2023-24 tax year, up from 12.4m the year before and the highest level for 13 years. The spree was driven primarily by a rise in demand for the cash Isas rather than the stocks and shares version.
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