There has been a rush of people looking to invest in an individual savings account (Isa) before the end of the tax year, figures show.
According to figures released by Barclays Stockbrokers, there has been an increase of 26 per cent in the number of people opening an Isa between January and February 28th 2008, compared to the same period last year.
The bank believes that the surge shows that investors are "focused" on using their Isa allowance and are confident about the future performance of their investments .
Amy Nauiokas, managing director and head of Barclays Stockbrokers, said: "We are delighted to see investors actively taking their tax allowance in 2008 despite the recent volatility.
"The 26 per cent increase in new ISAs over 2007 reinforces the investor belief that investments will outperform over the medium to long term."
Last week Barclays announced the launch of a new cash Isa featuring what it claims is a market leading interest rate of 6.5 per cent.
People rushing to invest in an Isa, figures show
People rushing to invest in an Isa, figures show
Tue, 04 Mar 2008
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