Sonia Kumar
Main Page: Sonia Kumar (Labour - Dudley)Department Debates - View all Sonia Kumar's debates with the HM Treasury
(3 weeks, 3 days ago)
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Emma Reynolds
I assure the right hon. Gentleman that we are looking at that. We will make sure that firms can take advantage of suggesting targeted support to their consumers so that they are better off, can make more of their money and get a better pension, too.
Sonia Kumar (Dudley) (Lab)
Some 58% of investors think it is important that stocks and shares ISAs are invested in UK companies. Currently, it is estimated that £100 billion is held in the cash ISAs of people who do not have stocks and shares ISAs. What steps is my right hon. Friend taking to encourage further investment in UK stocks and shares, and investment in UK companies?
Emma Reynolds
As we set out at the spring statement, we are looking at the balance between investments in cash and investments in stocks and shares in ISAs. We want to get that balance right. We understand the importance of a rainy day buffer in cash, but we need to give people the confidence to invest. That is a win-win: it is a win for them and a win for British companies listed on our stock exchange.