SKIPTON MPJulian Smith has welcomed radical changes to savings which have now come into force.

Millions of savers across the country are able to save three times as much money in their ISAs from this month.

As part of the New ISA (NISA), the cash limit has gone up from £5,760 in 2013-14 to £15,000 in 2014-15.

Skipton Building Society was the first financial institution to ensure their products were NISA ready in March this year.

Mr Smith said: “These important changes are about supporting savers at every stage – whether that’s saving for a home, saving for your family or saving for retirement.

“The New ISA will help millions of people putting aside money in savings have more financial security to plan for their future.”