Reform's head of DOGE Zia Yusuf and Chancellor Rachel Reeves (Image: GETTY)

       Reform UK's Zia Yusuf warned Rachel Reeves against slashing the cash Isa allowance. The Chancellor is reportedly poised to announce plans to limit the ￡20,000 annual tax-free cap.

       But Mr Yusuf, who heads up Reform's Department of Government Efficiency (Doge), wrote on X: "Unbelievably stupid from Reeves. Punish the segment of society who are actually saving so they won’t be a leech on the state. She is the worst Chancellor of all time."

       Article continues below ADVERTISEMENT

       Forgetfulness Over 50? Do This 10-Second Elephant Trick To Stay Sharp!Memory Health Today | Sponsored Sponsored

       Undo

       DON'T MISS

       Powered by

       Universal Credit claimants warned over Lifetime ISA mistake as MPs push for reform

       Comments

       Older savers with modest balances to be hardest hit from Rachel Reeves's cash ISA changes

       287 Comments

       Rachel Reeves ‘fuelling ￡91.8bn exodus of millionaires' from the UK

       81 Comments

       Personal tax allowance raise from ￡12,570 to ￡20,000 update as backing soars

       Comments

       Warning issued to anyone with 1 particular type of ISA

       2 Comments

       Premium Bonds group of savers warned they will be more impacted by rates drop

       1 Comments

       Rachel Reeves urged to 'means test' state pension

       104 Comments

       Middle classes abandon UK and flee to Mediterranean after Rachel Reeves's tax grab

       18 Comments

       Martin Lewis gives Premium Bonds update over winter fuel payment fears

       15 Comments

       Vote Starmer, get Corbyn! Hard left runs Labour now - and it will make you pay

       490 Comments

       Full BBC TV licence rules for pensioners to get it for free

       1 Comments

       Rachel Reeves told to cut Cash ISA limit to ￡10,000 as changes still on table

       24 Comments

       Thousands on DWP State Pension given bad news

       10 Comments

       Anyone with Premium Bonds urged you need to keep an eye on this 'key' figure

       1 Comments

       Dementia Has Been Linked To a Common Habit. Do You Do It?Memory Health | Sponsored Sponsored

       Learn More

       Undo

       Rachel Reeves set to make major cash ISA decision - savers won't be happy

       272 Comments

       The 7 tax rises Rachel Reeves is eyeing up to plug ￡3bn black hole - full list

       690 Comments

       Dementia Has Been Linked To a Common Habit. Do You Do It?Memory Health | Sponsored Sponsored

       Learn More

       Undo

       Martin Lewis speaks out after ISA report and says some 'unfairly penalised' in savings

       Comments

       Five unthinkable taxes Rachel Reeves may hike to plug Labour's black hole

       325 Comments

       Dementia Has Been Linked To a Common Habit. Do You Do It?Memory Health | Sponsored Sponsored

       Learn More

       Undo

       Council tax rules are changing: Expert explains how it could affect the amount you pay

       4 Comments

       Pension warning as new rule could threaten millions with savings

       1 Comments

       Medical Mystery Solved: Dementia and Memory Loss Has Been Linked To This...Memory Health | Sponsored Sponsored

       Learn More

       Undo

       Universal Credit claimants warned over Lifetime ISA mistake as MPs push for reform

       Comments

       Older savers with modest balances to be hardest hit from Rachel Reeves's cash ISA changes

       287 Comments

       Dementia Has Been Linked To a Common Habit. Do You Do It?Memory Health | Sponsored Sponsored

       Learn More

       Undo

       Rachel Reeves ‘fuelling ￡91.8bn exodus of millionaires' from the UK

       81 Comments

       Personal tax allowance raise from ￡12,570 to ￡20,000 update as backing soars

       Comments

       Dementia Has Been Linked To a Common Habit. Do You Do It?Memory Health | Sponsored Sponsored

       Learn More

       Undo

       Warning issued to anyone with 1 particular type of ISA

       2 Comments

       Premium Bonds group of savers warned they will be more impacted by rates drop

       1 Comments

       Dementia Has Been Linked To a Common Habit. Do You Do It?Memory Health | Sponsored Sponsored

       Learn More

       Undo

       Rachel Reeves urged to 'means test' state pension

       104 Comments

       Middle classes abandon UK and flee to Mediterranean after Rachel Reeves's tax grab

       18 Comments

       Dementia Has Been Linked To a Common Habit. Do You Do It?Memory Health | Sponsored Sponsored

       Learn More

       Undo

       Martin Lewis gives Premium Bonds update over winter fuel payment fears

       15 Comments

       Vote Starmer, get Corbyn! Hard left runs Labour now - and it will make you pay

       490 Comments

       Dementia Has Been Linked To a Common Habit. Do You Do It?Memory Health | Sponsored Sponsored

       Learn More

       Undo

       Full BBC TV licence rules for pensioners to get it for free

       1 Comments

       Rachel Reeves told to cut Cash ISA limit to ￡10,000 as changes still on table

       24 Comments

       Dementia Has Been Linked To a Common Habit. Do You Do It?Memory Health | Sponsored Sponsored

       Learn More

       Undo

       Thousands on DWP State Pension given bad news

       10 Comments

       Anyone with Premium Bonds urged you need to keep an eye on this 'key' figure

       1 Comments

       Rachel Reeves set to make major cash ISA decision - savers won't be happy

       272 Comments

       The 7 tax rises Rachel Reeves is eyeing up to plug ￡3bn black hole - full list

       690 Comments

       Martin Lewis speaks out after ISA report and says some 'unfairly penalised' in savings

       Comments

       Five unthinkable taxes Rachel Reeves may hike to plug Labour's black hole

       325 Comments

       Council tax rules are changing: Expert explains how it could affect the amount you pay

       4 Comments

       Pension warning as new rule could threaten millions with savings

       1 Comments

       Universal Credit claimants warned over Lifetime ISA mistake as MPs push for reform

       Comments

       Older savers with modest balances to be hardest hit from Rachel Reeves's cash ISA changes

       287 Comments

       Rachel Reeves ‘fuelling ￡91.8bn exodus of millionaires' from the UK

       81 Comments

       Personal tax allowance raise from ￡12,570 to ￡20,000 update as backing soars

       Comments

       Warning issued to anyone with 1 particular type of ISA

       2 Comments

       Premium Bonds group of savers warned they will be more impacted by rates drop

       1 Comments

       Rachel Reeves urged to 'means test' state pension

       104 Comments

       READ MORE: Major warning Rachel Reeves is set to hike taxes after Keir Starmer U-turns

       The Chancellor is expected to announce plans to reduce the cash Isa allowance in her Mansion House speech next month.

       Ms Reeves is said to believe the move, reported by the Financial Times, will encourage savers to shift from cash to shares to boost Britain's economy.

       Powered By

       00:00/01:36

       10 Sec

       336.6K

       31

       Texas floods: At least 69 people confirmed dead

       Next

       Stay

       It would be the biggest overhaul of Isas since they were introduced in 1999.

       Sponsored

       Dexcom | Sponsored Sponsored

       This CGM can alert you of low glucose 20 minutes before it happens.

       Undo

       Trending

       SUBSCRIBE Invalid email

       We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. Read our Privacy Policy

       Ms Reeves confirmed last month that she had no plans to reduce the total amount that can be paid into Isa products each year.

       DON'T MISS

       Powered by

       Universal Credit claimants warned over Lifetime ISA mistake as MPs push for reform

       Comments

       Older savers with modest balances to be hardest hit from Rachel Reeves's cash ISA changes

       287 Comments

       Rachel Reeves ‘fuelling ￡91.8bn exodus of millionaires' from the UK

       81 Comments

       Personal tax allowance raise from ￡12,570 to ￡20,000 update as backing soars

       Comments

       Warning issued to anyone with 1 particular type of ISA

       2 Comments

       Premium Bonds group of savers warned they will be more impacted by rates drop

       1 Comments

       Rachel Reeves urged to 'means test' state pension

       104 Comments

       Middle classes abandon UK and flee to Mediterranean after Rachel Reeves's tax grab

       18 Comments

       Martin Lewis gives Premium Bonds update over winter fuel payment fears

       15 Comments

       Vote Starmer, get Corbyn! Hard left runs Labour now - and it will make you pay

       490 Comments

       Full BBC TV licence rules for pensioners to get it for free

       1 Comments

       Rachel Reeves told to cut Cash ISA limit to ￡10,000 as changes still on table

       24 Comments

       Thousands on DWP State Pension given bad news

       10 Comments

       Anyone with Premium Bonds urged you need to keep an eye on this 'key' figure

       1 Comments

       Retired? Pay One Price for Internet and TVInternet & TV Bundles | Sponsored Sponsored

       Learn More

       Undo

       Rachel Reeves set to make major cash ISA decision - savers won't be happy

       272 Comments

       The 7 tax rises Rachel Reeves is eyeing up to plug ￡3bn black hole - full list

       690 Comments

       Forgetfulness Over 50? Do This 10-Seco nd Elephant Trick To Stay Sharp!Memory Health Today | Sponsored Sponsored

       Undo

       Martin Lewis speaks out after ISA report and says some 'unfairly penalised' in savings

       Comments

       Five unthinkable taxes Rachel Reeves may hike to plug Labour's black hole

       325 Comments

       Dementia Has Been Linked To a Common Habit. Do You Do It?Memory Health | Sponsored Sponsored

       Learn More

       Undo

       Council tax rules are changing: Expert explains how it could affect the amount you pay

       4 Comments

       Pension warning as new rule could threaten millions with savings

       1 Comments

       Medical Mystery Solved: Dementia and Memory Loss Has Been Linked To This...Memory Health | Sponsored Sponsored

       Learn More

       Undo

       Universal Credit claimants warned over Lifetime ISA mistake as MPs push for reform

       Comments

       Older savers with modest balances to be hardest hit from Rachel Reeves's cash ISA changes

       287 Comments

       Dexcom G7 is proven to lower A1C and increase time in range3？？.Dexcom | Sponsored Sponsored

       Undo

       Rachel Reeves ‘fuelling ￡91.8bn exodus of millionaires' from the UK

       81 Comments

       Personal tax allowance raise from ￡12,570 to ￡20,000 update as backing soars

       Comments

       This CGM can alert you of low glucose 20 minutes before it happens. Dexcom | Sponsored Sponsored

       Undo

       Warning issued to anyone with 1 particular type of ISA

       2 Comments

       Premium Bonds group of savers warned they will be more impacted by rates drop

       1 Comments

       The Greatest Enemy of Memory Loss? Try this tonightMemory Health Today | Sponsored Sponsored

       Undo

       Rachel Reeves urged to 'means test' state pension

       104 Comments

       Middle classes abandon UK and flee to Mediterranean after Rachel Reeves's tax grab

       18 Comments

       Dementia Has Been Linked To a Common Habit. Do You Do It?Memory Health | Sponsored Sponsored

       Learn More

       Undo

       Martin Lewis gives Premium Bonds update over winter fuel payment fears

       15 Comments

       Vote Starmer, get Corbyn! Hard left runs Labour now - and it will make you pay

       490 Comments

       Medical Mystery Solved: Dementia and Memory Loss Has Been Linked To This...Memory Health | Sponsored Sponsored

       Learn More

       Undo

       Full BBC TV licence rules for pensioners to get it for free

       1 Comments

       Rachel Reeves told to cut Cash ISA limit to ￡10,000 as changes still on table

       24 Comments

       Dexcom G7 is proven to lower A1C and increase time in range3？？.Dexcom | Sponsored Sponsored

       Undo

       Thousands on DWP State Pension given bad news

       10 Comments

       Anyone with Premium Bonds urged you need to keep an eye on this 'key' figure

       1 Comments

       Rachel Reeves set to make major cash ISA decision - savers won't be happy

       272 Comments

       The 7 tax rises Rachel Reeves is eyeing up to plug ￡3bn black hole - full list

       690 Comments

       Martin Lewis speaks out after ISA report and says some 'unfairly penalised' in savings

       Comments

       Five unthinkable taxes Rachel Reeves may hike to plug Labour's black hole

       325 Comments

       Council tax rules are changing: Expert explains how it could affect the amount you pay

       4 Comments

       Pension warning as new rule could threaten millions with savings

       1 Comments

       Universal Credit claimants warned over Lifetime ISA mistake as MPs push for reform

       Comments

       Older savers with modest balances to be hardest hit from Rachel Reeves's cash ISA changes

       287 Comments

       Rachel Reeves ‘fuelling ￡91.8bn exodus of millionaires' from the UK

       81 Comments

       Personal tax allowance raise from ￡12,570 to ￡20,000 update as backing soars

       Comments

       Warning issued to anyone with 1 particular type of ISA

       2 Comments

       Premium Bonds group of savers warned they will be more impacted by rates drop

       1 Comments

       Rachel Reeves urged to 'means test' state pension

       104 Comments

       This CGM can alert you of low glucose 20...Dexcom

       Undo

       by Taboola by Taboola

       Sponsored Links Sponsored Links

       Promoted Links Promoted Links

       The Business Sneaker Loved by CEOs and NFL...Wolf & Shepherd

       Undo

       by Taboola by Taboola

       Sponsored Links Sponsored Links

       Promoted Links Promoted Links

       The Greatest Enemy of Memory Loss? Try this...Memory Health Today

       Undo

       by Taboola by Taboola

       Sponsored Links Sponsored Links

       Promoted Links Promoted Links

       Over 55? Pay One Cost for Internet and TV (Tak...Internet & TV Bundles

       Undo

       by Taboola by Taboola

       Sponsored Links Sponsored Links

       Promoted Links Promoted Links

       But she did not rule out cutting the allowance for cash Isas.

       She said: “I do want people to get better returns on their savings, whether that’s in a pension or in their day-to-day savings”.

       A Treasury official confirmed that the Government was “looking at options for reforms to Isas that get the balance right between cash and equities”.