If the Budget's U-turn on Cash ISA cuts proved anything, it's that Brits aren't ready to shift away from cash savings just yet.Following the Autumn Budget, a new study from smart money app Plum reveals that over half (57%) of Brits support the Government's decision to reverse the proposed reduction in the Cash ISA allowance, with just 9% opposing. Save or speculate? When it comes to plans for spare cash post-Budget, the new study shows Brits are still planning to keep all excess cash in Cash ISAs (19%) or a general savings account (14%) over investments or a Stocks & Shares ISA (11%). I plan to keep all my extra cash in Cash ISAs19%I plan to keep all my extra cash in a general savings account14%I plan to move more money into Stocks & Shares ISAs / investments11%I plan to keep more cash in easy-access cash accounts for emergencies10%I plan to move my money into premium bonds3%I plan to spend more now before prices/taxes rise further2%Gift it to friends/family/charity2%I plan to move my money into gilts (UK government bonds)2%I don’t have any spare cash / excess funds to save17%I’m not sure16%When asked about what would give them the most confidence to move spare cash into investments, nearly one in five Brits (19%) said protection against losing money would give them the most confidence, followed by the ability to start with very small amounts rather than a large lump sum (10%) and clear information about investment risks and potential returns (10%).While almost a quarter of Brits (24%) feel more confident than before the Budget that their current financial strategy will help them achieve their overall money goals, this more than doubled to over half (52%) for Gen Z. Meanwhile, 13% of Brits said they feel less confident overall.LISA gets a lifelineHighly anticipated reforms to the Lifetime ISA (LISA) and the rollout of new homeownership schemes were overall met with public support. Over two-fifths (42%) of Brits back the changes to the LISA, which has faced criticism over its price cap and withdrawal penalties, compared to just 6% who opposed them. Backing is strongest among Millennials (53%), the demographic best positioned to capitalise on the scheme since its 2017 launch, and Londoners (60%), where many first homes cost more than the LISA’s £450,000 price cap.In addition, over half (56%) said they support the introduction of the ‘Your First Home’ scheme, and 44% said they support the introduction of First Time Buyer ISA to replace the LISA in 2029. Commenting on the findings, Dan Wills, Financial Adviser at smart money app Plum, said: “Our latest study confirms that public support for keeping the Cash ISA limit at £20,000 remains strong, suggesting the Government made the right call by leaving the cap untouched.“This is something we have campaigned for since the initial proposal last year. While the rationale for cutting the allowance was to turn cash savers into stock market investors, this was a flawed approach as many Cash ISA users were more likely to turn to other savings products rather than invest. “That said, investing remains a powerful way to build long-term wealth, even if a tough economic climate makes people naturally cautious about market risk. The proposed New Starter ISA, particularly with anticipated government top-ups, is a welcome step that can help ease first-time investors into the market safely and build that crucial financial confidence.“The Budget also presented an important opportunity to address some of the barriers facing people trying to get onto the property ladder. That's why we're particularly pleased to see the LISA withdrawal charge cut from 25% to 20% for people buying a home above the £450,000 cap, so they no longer lose any of their own savings. The introduction of new homeownership schemes, including the Your First Home Scheme and First Time Buyer ISA, could also help more people onto the property ladder, particularly those without access to family support. However, more products aren't necessarily the answer if they risk adding complexity to an already crowded market.”NoYesCash management06 Nov, 2026