Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps her Department is taking to prevent the use of Stocks and Shares ISAs to circumvent revised Cash ISA limits due to be introduced in April 2027.

ISA reform forms part of our strategy to support people into the higher returns that investing can provide.

Rules will be introduced to avoid circumvention of the lower limit for cash ISAs where an individual is under the age of 65. The industry is being consulted on the draft rules, which will be made by amendments to the ISA Regulations and laid in Parliament ahead of April 2027.   Building societies and mortgage lenders are part of the industry consultation.

We will consult on the final rules as soon as these are ready, so that firms have enough notice before the new limit applies in April 2027.

The availability and pricing of mortgages is a commercial decision for lenders in which the Government does not intervene. However, mortgage rates are influenced by a range of factors, including Base Rate, which has been cut six times since this Government came to power.