Andy Burnham and John Healey 'restore full £20,000 cash ISA allowance' update ahead of Autumn Budget

NewsMidlands NewsAndy BurnhamThe Autumn Budget lies ahead on October 2808:08, 11 Aug 2026Andy Burnham could restore the full cash ISA allowance from 2027, with Labour Party Chancellor John Healey, some experts have suggested. Mr Burnham and Mr Healey will deliver the Autumn Statement on October 28.‌From 2027, Mr Healey faces former Chancellor Rachel Reeves' proposed ISA reforms kicking into effect. It will take the cash ISA allowance for those under age 65 from £20,000 to £12,000.‌But Morningstar reports Healey could "revisit this policy, scrap it, and restore the full ISA allowance for cash savings." Michael Diamantopoulos, associate director of fixed income and currency at Morningstar, says such a cap would have a “material impact” on the UK’s savings regime.‌READ MORE Andy Burnham counc