The cash ISA allowance is looking unlikely to be cut next week, despite rumours circulating that Rachel Reeves could announce the move in her Mansion House speech on Tuesday 15 July.

Bestinvest’s Spot the Dog report, which highlights consistently underperforming funds, has revealed that investors have £67.4bn tied up in 137 poorly performing ‘dog’ funds.

Some 137 equity investment funds holding £53.42bn of client money consistently underperformed their market benchmarks over the last three years, according to Bestinvest’s latest Spot The Dog survey of under-performers.