It’s an ISA TRAP!
Darling is NOT being generous by increasing the ISA limit for older people - he is simply offering a small breadcrumb (tax relief on interest) as a hook to capture Inheritance Tax at 40% (or more) from those unlucky enough to die holding an IHT inefficient ISA.
Over 60 you should start to consider saving 40% IHT rather than a few pence of income tax on almost no interest - I am not suggesting abandoning ISA’s totally, but looking at a more balanced picture of their tax effeciency - especially in these times of low interest.
Steve