UK's Healey to reverse cuts to cash ISA allowances, FT reports

British ​finance ​minister John ‌Healey is to ​use his Wednesday budget ‌to scrap plans to slash the annual cash Individual Savings ‌Account (ISA) allowance from £20,000 ($26,626.00) to £12,000, the ‌Financial Times reported on Tuesday. Healey had decided to reverse the ⁠cut ​to ⁠the ISA allowance, which had been ⁠announced by his predecessor ​Rachel Reeves in an attempt to ⁠funnel cash into UK companies, ⁠the ​report said, citing people familiar with the ⁠matter.

Reuters could not immediately verify ⁠the ⁠report. ($1 = 0.7511 pounds)