Apr 14 2008
Individual savings accounts (Isas) opened in the UK are attracting record levels of investment from consumers around the country, it has been revealed.
According to the latest data from HM Revenues & Customers, close to £26 billion was invested into Isas during the first three quarters of the recently ended tax year.
Isas are among the most popular vehicles for saving for children and almost nine million cash-based accounts were opened in the first three quarters of the 2007/2008 tax year.
The figures have been warmly welcomed by the Tax Incentivised Savings Association (Tisa), which has noted that equity-linked Isas have performed strongly despite what it called "considerable uncertainty in financial markets".
"These numbers are the most powerful evidence possible to demonstrate consumers' affinity for Isas and their viability into the future," said Tisa's director general Tony Vine-Lott.
A report from Skipton Financial Services last week suggested that Isa holders remain willing and even eager to invest in stocks linked to the world's emerging economies.
