UK Money News
23rd April 2008
Take-up for Isas increases by 30%
The numbers of savers opting to invest in an independent savings account (Isa) has increased over the last three months, despite signs of a turbulent market.
During 2007 take up for Isas rose by 30 per cent compared with the same period last year.
The rise comes at a time when household budgets are being squeezed by rising food costs and double digit increases on energy tariffs, which might have been expected to cut the potential for consumers to save or invest money.
Turbulence in the financial markets might also have been expected to cut demand, due to the fact that some Isas' performance is related to that of the stock exchange.
Ian Benning, product development manager at The Share Centre, said: "Our Isa take-up figures continue to improve each year and it is encouraging to see that many investors are riding out the markets with a long term view.
"This year we were able to enhance our range with the launch of a Funds Isa. This offers customers the choice to invest in over 1400 funds from well-known investment companies using a tax efficient wrapper."
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