HMRC has confirmed a major overhaul of Individual Savings Account rules that will affect millions of UK savers from April 2027. The changes, announced this week, include a new 22 percent tax charge on cash held inside Stocks and Shares ISAs and a significant reduction in the annual Cash ISA allowance for under-65s. Here is everything you need to know about the new ISA rules and what they mean for your savings. What Are the New HMRC ISA Rules? The most significant change confirmed by HMRC is the introduction of a flat-rate 22 percent tax charge on any interest earned on cash held inside a Stocks and Shares ISA or an Innovative Finance ISA. Until now, any interest earned inside an ISA wrapper has been completely tax-free. From 6 April 2027, that will no longer apply to uninvested cash sitting inside investment accounts. At the same time, the annual Cash ISA allowance for people under the age of 65 will be cut from £20,000 to £12,000. The overall ISA allowance of £20,000 per year rema...
Germany's Defence Ministry has cancelled its most ambitious naval programme in decades, scrapping plans to build six F126 frigates after the project was hit by years of delays, massive cost overruns and contractor failures. The decision, announced on June 24, 2026, brings an end to what had been the largest warship commission in Germany since the Second World War. What Was the F126 Frigate Program? The F126 frigate programme was launched in 2020 under then-Defence Minister Ursula von der Leyen. The plan was to build six of the world's largest frigates each 166 metres long with a displacement of 10,500 tonnes at a total cost of roughly €10 billion. The ships were designed primarily for anti-submarine warfare and were intended to fulfil Germany's NATO obligations. Dutch shipbuilder Damen Schelde Naval Shipbuilding was awarded the original contract as general contractor. At the time, it was described as a milestone in German defence procurement, with officials emphasising...