Autumn Budget winners and losers

Chancellor Rachel Reeves has announced a reduction in the annual cash ISA limit from £20,000 to £12,000, a decision that could significantly impact millions of savers in the UK. This change is part of the broader Autumn Budget aimed at addressing economic challenges.

Chancellor Rachel Reeves announced an Autumn Budget that avoids raising headline income tax but increases tax rates on property, dividends, and savings, resulting in a £26 billion tax hike. This decision is expected to impact various income sources significantly, raising concerns among taxpayers about their financial burdens.

Five of the top ten paying instant access cash ISAs have dropped in rankings following the expiration of their headline bonus rates, prompting a warning for savers to reassess their cash ISAs. This decline highlights the importance of monitoring interest rates and terms associated with these accounts to avoid suboptimal returns.

Pension savers are facing the risk of their retirement pots running out up to 11 years earlier than expected due to persistent high inflation rates, which could significantly diminish their retirement income. This alarming trend raises concerns about the sustainability of retirement savings in an inflationary environment.

Chen Zhi, previously recognized as a business prodigy with investments spanning real estate to airlines, is now alleged by prosecutors to be the leader of a global conspiracy, raising serious concerns about his business practices and affiliations.