Tisa: Isas will increase in popularity by Finance News Bulletin

Published: 03/01/08

Last week's decision by the monetary rule committee to cut the base rate to 55 per cent may not denote 2008 will be an easier day for mortgage-holders, according to the Council of Mortgage Lenders (CML)Government investigate into independent savings financial records (Isas) has confirmed that they are an "increasingly popular investments vehicle", reports the Tax Incentivised Savings Association (Tisa)A study by HM coffers and HM Revenue & Customs found that 39 per cent of UK consumers at present hold an Isa, making it the fourth most well-liked form of savings

Of these, 76 per cent make one or no withdrawals on their accounts per year, while 45 per cent create one or more expenditure in a yearTony Vine-Lott, director general of Tisa, said that the research made "extremely interesting interpretation""[Isas] are well known, allow investments for a multitude of purposes while allowing flexibility that many customers find useful, and are increasingly fulfilling a lasting savings need," he explainedHe claimed that the government's proposals yesterday, which included rising the investment limit on the accounts and making them simpler to use, would only dish up

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