There was mixed news for investments in the latest budget, according to an expert.
Nick Scarrett from the Fair Investment Company said that although it was not exactly a new announcement, the increased individual savings account (ISA) allowance was still welcome.
He commented: "The increased ISA allowance, which comes into force next tax year (from April 6th 2010) is great news for savers and investors alike, and will really boost people's tax efficient savings ."
Scarrett also welcomed the decision not to raise capital gains tax something which had previously been predicted.
He said: "There had been fears that he would raise it from 18 per cent to something nearer 50 per cent in an attempt to close a loophole he feared higher tax earners might take following the rise in their income tax, but he has obviously realised a change would do more harm than good."
However, he was critical of the decision to freeze inheritance tax thresholds, adding that it meant "heirs of more householders will be liable to pay the 40 per cent tax if property prices rise".
Chancellor Alistair Darling also announced the setting up of a new Green Investment Bank that will control £2 billion worth of equity .
Mixed investment news from budget, claims expert
Mixed investment news from budget, claims expert
Thu, 25 Mar 2010
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