Chancellor Rachel Reeves may target Individual Savings Accounts (ISAs) in next week’s Budget, potentially introducing a £500,000 lifetime limit on these tax-free accounts. This proposal harks back to an idea she floated in 2016 in an article for The Independent with analysts claiming it could be “dangerous” for savers. Currently, savers and investors can contribute up to £20,000 annually to ISAs without paying tax on the returns. These accounts have proven immensely popular, with 12.5 million adult ISA accounts subscribed to in the 2022-2023 financial year. Any changes to the ISA system could …