Good morning and welcome to your Morning Briefing for Monday 27 October 2025. To get this in your inbox every morning click here.
Chancellor urged to drop Cash Isa cut plans
The chancellor has been urged to drop reported plans to cut the Cash Isa allowance at next month’s Budget.
MPs and wealth firms have warned that such a move would discourage saving and fail to boost investment in UK markets.
The Treasury Committee, backed by leading investment firms including AJ Bell, said cutting the allowance would do little to achieve the government’s goal of encouraging more retail investors into UK equities.
Targeted support could help unlock the risk dilemma
The rollout of targeted support “will try and help to unlock the risk dilemma in the UK”.
This is what Barclays head of private bank and wealth management UK Mohammad Kamal Syed said at the Investment Association Funds Symposium conference on 21 October.
Looking Ahead: Expect fireworks at the Budget
Here in the UK, we are always told to, “Remember, remember, the fifth of November.”
But this year it will be 26 November at the forefront of advisers’ minds, with chancellor Rachel Reeves expected to unveil an explosive Budget to rival any fireworks display.
The relentless rumour mill has only added fuel to the flames, with everything seemingly on the table as Reeves looks to plug a fiscal black hole to the tune of £22bn.
Quote Of The Day
Oil rose to its highest level in more than two weeks, as hopes for a US-China trade deal boosted expectations for energy demand
– Hargreaves Lansdown senior equity analyst Matt Britzman on oil prices rising due to the potential of a US-China trade deal
Stat Attack
The Investment Association is calling on the government to deliver certainty around pension tax policy. Ahead of the Budget, rumours are feeding into fears that pension tax benefits will reduce, as its research finds:
37%
are worried that their pension tax benefits will reduce following this Autumn’s Budget.
42%
agreed that changing pensions policy makes it more difficult to plan for the future.
24%
of UK adults are confident that the state pension will be enough to live on in retirement.
62%
of pension providers have seen an increase in the value of tax-free lump sums taken in the last year.
Source: Investment Association
In Other News
Quilter Cheviot International has appointed Maria Gardner as investment director in its Jersey office.
Gardner has held senior roles at Asset Risk Consultants and more recently as head of family office for HSBC.
She joins a team of ten investment managers and three financial planners in the Jersey office and will be responsible for delivering bespoke investment solutions to a range of international private client, trustee and company structures.
The hire bolsters Quilter Cheviot’s ability to provide a consistent offering to higher net worth clients across the UK, Europe and internationally.
Trump says US, China are going to come away with deal (Reuters)
Tax advantage of UK self-employment at record high, analysis finds (Financial Times)
Barclays re-enters Saudi Arabia 11 years after exiting business (Bloomberg)
Did You See?
The chancellor has announced the launch of the Financial Conduct Authority and Prudential Regulation Authority’s scale-up unit.
Rachel Reeves announced the new unit at the FCA Forum, held in Leeds on October 24.
The unit is designed to give financial services firms support to help them scale up, invest and create highly-skilled jobs.
The city watchdog said: “The scale-up unit will provide growing financial sector regulated firms across the country with tailored support and guidance to help them test ideas, grow and succeed in the UK.”
The unit will assist firms by connecting them with a “dedicated point of contact to support with challenges they face”.
The FCA and PRA believe the unit will support competitiveness, growth and innovation across the UK.
The unit will initially support firms who are regulated by either the FCA or PRA. The service will open at first for fast-growing deposit-takers and insurers, before expanding to serve other financial services firms including fintechs next year.
