Andy Burnham and John Healey new rule for savings accounts 'regardless of people's age or income'

NewsMidlands NewsAndy BurnhamStarting 6 April 202708:04, 17 Aug 2026Andy Burnham and John Healey have been urged to row back on the Labour Party government's plans for a 22 per cent interest tax charge for people with certain savings accounts.‌Starting 6 April 2027, the Labour Party government, now headed up by Makerfield MP Mr Burnham, will introduce a flat 22% charge on interest earned from uninvested cash held inside non-cash ISAs (such as Stocks and Shares or Innovative Finance ISAs).‌The policy is inherited from former Chancellor Rachel Reeves, who Mr Burnham has replaced in No11 with Mr Healey. Andrew Prosser, head of Investments at investment platform InvestEngine, said: "If Andy Burnham wants to put his own stamp on ISA policy, he should just make it simpler, starting with an early