More changes to ISAs

Commenting on the Economic Secretary, Ed Balls’ statement on ISAs today, David Kuo, Head of Personal Finance at www.fool.co.uk says:

“It is good news that the Government will allow investors to move savings built up in Cash ISAs into a Stocks & Shares ISA without penalty. But to improve flexibility and choice, the Government should also allow investors to transfer Stock & Shares ISAs back into Cash ISAs without penalty as their appetite for risks change.

“We look forward to full details of the proposed changes in the Chancellor’s pre-Budget announcement on 6 December.”