TESSAs by the rule that they must lock their money away for the account's five-year life.
ECONOMIST: Tax and saving
2.
TESSAs has discriminated against those with low or unpredictable incomes who cannot afford to lock money away.
ECONOMIST: Tax and saving
3.
ISAs are tax-free savings and investment vehicles that were first introduced by the government in 1999, replacing Personal Equity Plans (Peps) and Tax-Exempt Special Savings Accounts (Tessas).