Chancellor’s autumn statement

Monday, December 16, 2013

In the autumn statement on 5th December, Chancellor George Osborne announced new ISA annual subscription limits.  The government will uprate, the ISA, Junior ISA and Child Trust Fund annual subscription limits in line with CPI.  Therefore, the 2014-15 ISA limit will be increased from £11,520 to £11,880 (half of which can be saved into a cash ISA) whilst Junior ISAs and Child Trust Fund limits will both be increased to £3,840.

Neil Armitage, Marketing Director at Foresters Friendly Society said: "In today's low interest rate, high inflation environment, it makes sense to use all the tax breaks that are available.  These types of savings plans are a great way to put a little bit aside each month which over time can build into a valuable nest egg.  Anyone taking out a savings plan with Foresters will have access to Foresters Extras, a range of member benefits at no additional cost."

You can find out more about Foresters Friendly Society's products here.