Several City luminaries who called for a British Isa to fuel investment into London-listed stocks have said the UK government has missed an “easy win” after reports that plans for its creation have been scrapped. 

Former Conservative chancellor Jeremy Hunt announced plans for a British Isa during his March Budget, a move that would have provided British savers with a tax-free allowance of up to £5,000 to invest in UK-listed companies. This would have been in addition to the annual Isa allowance of £20,000.