UK Chancellor Rachel Reeves is expected to announce a reduction in the annual tax-free cash Individual Savings Account (ISA) allowance from the current £20,000 to as low as £5,000. This change is anticipated to be unveiled in her upcoming Mansion House speech. The proposed cut has drawn criticism from various quarters, highlighting concerns over its impact on savers. Alongside the ISA allowance adjustment, Reeves is also set to launch a permanent mortgage guarantee scheme aimed at supporting homebuyers. The government plans to introduce this help-to-buy mortgage program next week, signaling a dual approach to managing household finances and housing market support.