Rachel Reeves is pressing your pensions and Stocks and Shares ISAs into the service of the UK economy. And there\u2019s not much you can do about it.<\/p>\n
In a desperate bid to generate growth and save her own reputation, Reeves is preparing to tell ordinary investors where to put their money.<\/p>\n
Instead of leaving that decision down to you, she wants to direct tens of billions of our savings into areas that suit her.<\/p>\n
The Chancellor is quietly rewriting the rules of the game, treating your hard-earned savings not as private investments but as tools of government policy.<\/p>\n
You may think that your pensions and ISAs belong to you. Reeves appears to disagree.<\/p>\n
She needs growth \u2013 fast. And she\u2019s coming for your money to get it<\/a>.<\/p>\n Thanks to her own blunders, the Chancellor is in a tight spot.<\/p>\n She caved into the Labour Party\u2019s worst instincts, by launching a \u00a340billion tax raid in last October’s Budget, while borrowing another \u00a330billion.<\/p>\n And it’s all gone wrong. Economic growth has flatlined. Investment has dried up. Confidence is low.<\/a> Thanks to her “jobs tax”, unemployment has climbed to a four-year high.<\/p>\n Reeves is now desperately hunting for ways to get the UK economy to grow again, and this is where your pensions and ISAs come into it.<\/p>\n She\u2019s hijacking them to fund her growth agenda and salvage her reputation. That money should be working for your future, not hers.<\/p>\n Reports suggest Reeves is considering forcing Stocks and Shares ISA investors to back UK companies, whether they want to or not.<\/p>\n She may slash the Cash ISA allowance<\/a> and make at least some of the \u00a320,000 Stocks and Shares ISA allowande conditional on investing in British-listed equities<\/a>.<\/p>\n ISA tax relief costs the Treasury \u00a39.4billion a year. Reeves wants a better return on that giveaway.<\/p>\n