The British Isa ignores the first rule of investing

Sadly, MPs have very little “skin in the game” when it comes to investing. I often talk about the importance of fund managers having skin in the game — that they should invest meaningful amounts of their own, personal money into the funds that they run.

So the same should surely go for MPs. If they want to force us to invest a significant amount of our money into UK equities, they should do the same themselves.

In his budget on Wednesday the chancellor, Jeremy Hunt, created a new UK Isa. He wants to give us an extra £5,000 Isa allowance a year — on top of the usual £20,000 — but only if we use it to invest in UK-focused assets.

It feels like