Gregg McClymont – 2014 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Gregg McClymont on 2014-04-07.

To ask Mr Chancellor of the Exchequer, how many people made the maximum allowed contribution to an ISA in each of the last three years; and how many he estimates will do so in each of the next three years as a result of changes announced in the 2014 Budget.

Mr David Gauke

HM TREASURY

Gregg McClymont MP

CUMBERNAULD, KILSYTH AND KIRKINTILLOCH EAST

To ask Mr Chancellor of the Exchequer, how many people made the maximum allowed contribution to an ISA in each of the last three years; and how many he estimates will do so in each of the next three years as a result of changes announced in the 2014 Budget. 195422

DAVID GAUKE

In 2010-11, around 1.2 million individuals made full use of their (£10,200) ISA allowance. Figures for more recent years are not yet available.

As announced at Budget 2014, from 1 July 2014 the overall annual New ISA subscription limit will be increased to £15,000 and can be used for either cash or stocks and shares investments, or any combination of the two, up to this limit. Over 6 million people are expected to benefit from these increases, including over 5 million adults currently making full use of the cash ISA limit.

Estimates of the numbers of individuals expected to save at the new limit in each of the next three years are not available.