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RETAIL GIANTS OPT TO SELL ISAs

News, 01 January 1999

DESPITE INITIAL ADVERSE reactions to the Government’s new Individual Savings Accounts (in replacement of personal equity plans), a host of big names have sought and received Inland Revenue approval to sell ISAs. Among the successful applicants are the likes of Tesco, J Sainsbury and Marks & Spencer -’ all previously critical of the scheme. M&S revealed yesterday that it plans a major ad campaign in support of its ISA product. However, ISAs will not be sold at store checkouts, as originally hoped by the Government.