It IS A fiasco

Thank you Chancellor for raising the Limit on ISAs to £15k and amalgamating Cash and Stocks & Shares Isas into the allowance, Wonder why he's raised the allowance? Well currying favour with the Grey Vote - too little too late. Savings are the lowest for along time. Why save when your money is losing value all the time, interest rates are pathetic. Tax on very lkittle is very little so he's not losing much at all.

If you wonder why people don't take up ISA's then its because

1. Interest rates are pathetic Interest on £5k or interest on £15 ? well 3 x 0 = 0
2. Banks con you - attractive rate for first year then plummets to nothing - do they tell you - well in the small print but hope by next year you've forgaotten
3. Banks con you - various restirictions - can't move from one ISA to another, no transfers in, penalties for withrawals etc.
4. Ordinary Peopl e are poor - they need their money to live. 
5. If you've more than£15k put it somewhere else 

Bet sCameron and co don't bother!

I could mention similar things about pensions - another day. 

This country has been hurt by low interest rates. Saving is the life blood - spend only when you can afford it, borrowing is what got us in this mess. If Osborne upped the savings rates in say National Savings then he'd rake in money which he could use to start the economy moving. That's the way it used to be. If everybody's borroing then where does the money actuyally come from?