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Economics and investment: The tax break we should end

Tax-free gains on property should not be the natural order of things

By Andy Davis   June 2019

Photo: Yui Mok/PA Archive/PA Images

Another tax year is under way, which means—thank goodness—we can forget the annual ISA feeding frenzy until next spring. But before you do, consider how our view of the ISA has shifted. What was once regarded as an outstanding policy success in encouraging us to save and invest is now talked about as another grubby tax break for the rich.

This isn’t altogether surprising, given how the annual contribution limit has rocketed since the financial crisis—from £7,200 in April 2009 to £20,000 today. Governments…

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