Chancellor of the Exchequer Rachel Reeves is set to reduce the annual tax-free cash ISA allowance from the current £20,000 to as low as £5,000, a move expected to be announced in her upcoming Mansion House speech. This potential cut has drawn criticism from various quarters, with concerns about its impact on savers. Alongside this, Reeves plans to implement sweeping financial reforms aimed at boosting investment and economic growth by slashing red tape in the financial services sector. She intends to ease access to mortgages, particularly for first-time buyers, and reform post-crisis ring-fencing rules that govern London’s banking conduct. Reeves has described existing regulations as a "boot on the neck" of innovation and businesses, emphasizing her goal to leverage private-sector capital to strengthen the UK’s position as a global financial hub. Additionally, there are calls for Reeves to increase taxes on the £15 billion gambling industry, highlighting ongoing fiscal policy debates. These measures reflect her broader strategy to stimulate growth and homeownership while balancing regulatory oversight.