A new poll from discount broker Willis Owen shows that the majority of savers think they will be better off due to measures announced in last week’s Budget.
Over half of Willis Owen’s customers (59.8%) think they will be better off. 20.7% said think they will experience ‘no change’, and only 8.8% think they will be worse off, with 10.8% unsure.
Jason Chapman, Managing Director at Willis Owen, commented:
“Our customers have given the Budget a resounding thumbs-up. The Chancellor finally gave savers some reprieve after years of punishing interest rates.
“The so-called ‘NISA ISA’ gives savers greater flexibility, and should allow people to better manage their exposure to risk, especially when they’re nearing retirement.
“We’d like to see the Treasury go further in future though. Our customers tell us the most popular reason they invest in an ISA is to create income in retirement. Yet next year’s annual ISA allowance will be £15,000 while the tax-free allowance for pensions will be £40,000. If the Government is serious about boosting the national culture for saving, we think there should be a commitment to increasing the ISA allowance even further over the next few years.”