The amount held in cash ISAs by UK savers has reached a record high £313.5bn – an increase of 16% in just a year despite historically low interest rates, shows an analysis of new data by Bowmore Asset Management.
The amount saved in Stocks & Shares ISAs over the same period has dropped 3% from £314bn to £305bn, since then global stock markets have record highs.
“It’s staggering that so much wealth is being lost to inflation, through savers’ attachment to cash ISAs.”
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