Highest ever ISA subscriptions

The 2006/2007 tax year has seen the highest ever total subscribed to ISAs at over £33bn, according to figures just released from HMRC.

And the recovery in the Stock Market is clearly being marked by savers who last year invested £10.36bn in stocks and shares ISAs – the highest investment in this component since 2002.

ISAs are now held by around 20m savers who have invested around £300bn.

Director General Tony Vine-Lott said: ‘While there are headlines claiming the savings ratio is at its lowest ebb, we can see from official HMRC figures that ISAs are booming. The 2006/07 tax year was a record – showing that tax incentivised savings remain hugely popular with millions of people. TISA will be looking to ensure the popularity of ISAs remains high on the public policy agenda.’