Healey must reverse plans to limit cash Isa allowance to £12,000 The Chancellor is urged to scrap the proposed reduction in the cash Isa allowance, which would create confusion, add complexity, and deter investment. The Isa's simplicity and tax protection are threatened, despite the low expected economic impact of the change. As Chancellor John Healey prepares to deliver his first Budget in just two weeks, there is one urgent announcement he must make to help both savers and investors. And appealingly, for a cash-strapped Chancellor, it's completely free. Healey must reverse plans set in motion by his predecessor to slash the cash Isa allowance to £12,000 for under-65s. The policy threatens to sabotage the much-loved Isa, creating confusion for savers, piling on costs for industry, and adding complexity for no real gain. Today, we demand Healey keep his hands off our cash Isas.Isa Changes Threaten Tax ProtectionThe Isa, with over 22 million adult holders, is a simple, trusted financial product allowing up to £20,000 annual savings shielded from HMRC. But from April next year, unless Healey intervenes, under-65s will be restricted in their cash Isa contributions and face new taxes on cash held in stocks and shares Isas. This undermines the long-term pledge of tax protection.Even HMRC admits the changes won't significantly boost the economy, yet they will impose costly bureaucracy on providers and HMRC itself. New research from Trading 212 suggests the restrictions may deter investing rather than encourage it, as savers are drawn to safer cash options. Healey has the chance to boost both saving and investing by scrapping these ill-conceived rules. We call for him to preserve the freedom and simplicity of the Isa.