Rezaah Ahmad, CEO of investment platform WiseAlpha, calls for the ISA allowance to be significantly increased. "To meaningfully improve the UK’s savings landscape, Labour should consider raising the annual ISA allowance to £40,000. This increase would better reflect both inflationary changes and a desire to incentivise greater investment ISA usage since the current £20,000 limit was introduced in 2017 and the growing need for individuals to take greater control of their long-term financial futures and generate wealth above inflation. An allowance of £40,000 would provide far more flexibility, enabling savers to effectively build and diversify their portfolios across cash, stocks, shares, bonds, and alternative assets without being constrained by outdated thresholds. Increasing the overall ISA allowance to £40,000 would not only promote a stronger national savings culture but also provide the flexibility needed for intergenerational wealth planning and ensure ISAs are fit for purpose in addressing the UK’s long-term financial resilience and retirement security." Treasury minister Emma Reynolds recently told the Treasury Committee this week that the Government is "looking at ISA reform". This is following reports Chancellor Rachel Reeves could introduce a new £4,000 cap on cash ISAs, to encourage more investing. WiseAlpha warned bringing in a £4,000 cap could needlessly penalise people who prefer to put their funds in cash ISAs as they prefer a low-risk way to grow their cash. express.co.uk/finance/person…