Asset Management

Ex-Schroders boss Peter Harrison: Giving children cash ISAs ‘entirely wrong’ 

Harrison, a member of the City’s influential Capital and Markets Industry Taskforce, says real terms losses for cash ISAs are ‘good for nobody’

Since leaving Schroders,  Harrison has been named chair of construction group Morgan Sindall Group and joined an advisory group to the independent water commission
Since leaving Schroders, Harrison has been named chair of construction group Morgan Sindall Group and joined an advisory group to the independent water commission Photo: NurPhoto/Getty Images

Former Schroders chief executive Peter Harrison has joined a growing chorus of influential City figures calling for cuts to tax breaks for cash ISAs to get billions more invested into the UK stock market.

“Cash ISA savings are vast and typically suffer real returns losses. This is good for nobody,” Harrison told Financial News.

WSJ Logo