Tilney Bestinvest, the advisers and brokers, have questioned the future of Junior Individual Savings Accounts (Jisas) following the Budget.

Managing director Jason Hollands said the new Personal Savings Allowance from April 2016 "arguably makes cash Isas irrelevant for most people". He added: "It certainly confirms the fact that cash-based Junior ISAs - which account for 71per cent of all Jisas.... are completely and utterly pointless. Why tie up cash in a Jisa, where it can't be accessed for 18 years when it can be held tax-free in a readily accessible savings account?"