Nationwide warns Reeves against cutting tax breaks for cash Isa savers

Nationwide, Britain's biggest building society, has waded into a row over whether the government should cut tax breaks on cash Isas, arguing such a move would reduce mortgage availability for first-time buyers.

- Rupert Jones

City firms are lobbying the chancellor, Rachel Reeves, to scale back or ditch tax breaks on the popular savings accounts, which are used by almost 8 million savers each year. They want the government to put more focus on the riskier practice of investing in the stock market, which could deliver higher returns to individuals over the long term.