CHANCELLOR CONSIDERING ISA SWITCHING PLANS 

The chancellor Jeremy Hunt is considering changes to Isa rules, allowing investors to move their money to Isas offering better terms, according to The Telegraph. 

The changes would allow savers to open multiple Isas in a single tax year without losing their £20,000 allowance. 

Hunt plans to announce a consultation into wider Isa reforms later this month.  

LABOUR CALLS OUT GOVERNMENT PROGRESS ON ENERGY EFFICIENCY 

The Labour Party has criticised the speed of government efforts to improve the energy efficiency of homes. Department for Energy Security and Net Zero (DESNZ) statistics show 65,000 homes have been upgraded under the Energy Company Obligation (Eco) scheme since it was relaunched in April last year (The Guardian). 

Labour plans to lay out a “warm homes plan” to give devolved administrations the tools to bring every home to EPC standard C or higher within a decade. 

Meanwhile, Secretary of State for Energy Security and Net Zero, Claire Coutinho, has described the prime minister’s new approach to Net Zero outlined in September as “exactly right” (City AM). 

NEWS IN BRIEF

The UK economy is not facing a recession, although more is needed to grow the economy, Economic Secretary to the Treasury Andrew Griffith has said (Reuters). 

Jim Harra, Chief Executive of HMRC has told MPs that the government department will face extra demand this year as 1.2 million people enter a higher tax band (Financial Times). 

The Financial Services Compensation Scheme (FSCS) has forecast imposing a levy of £415 million against UK financial services firms to fund claims to compensate customers from 2024-2025 (Reuters). 

The Association of British Insurers (ABI) has reported a 29 per cent rise in the average comprehensive car insurance cover in Q3 compared to the same period in 2022 (Sky News).