Rachel Reeves’s overhaul of Individual Savings Accounts (ISAs) faces mounting opposition from the City amid fears the changes may discourage millions from investing. From next April, the annual cash ISA allowance will be reduced from £20,000 to £12,000 for savers aged under 65, with the remaining £8,000 required to be invested rather than held in cash. The Chancellor introduced the reforms in a bid to encourage greater participation in stock market investing, but financial services firms have ra