Pat Cash teams up with IG to call time on terrible (cash) returns

• The collaboration is part of IG’s national Save our stock market (SOS) campaign

• As part of campaign, IG is calling on government to abolish cash ISAs – to get more people investing and help revive UK stock market

Former Wimbledon champion Pat Cash is returning to the court, but this time it’s to serve up a message – cash returns just aren’t cutting it anymore.

In a new tongue-in-cheek campaign film by IG, the UK-based investing and trading platform, Pat is seen in a locker room, iconic headband in place, reminiscing about his glory days and his legendary “Cash return.” But as the film then shifts to a ‘Pat Cash returns masterclass’, it becomes clear the old magic is gone – with his dismal ‘returns’ leaving a group of baffled tennis students in the dust.

The message? Just like Cash’s once-iconic returns, Britain’s love affair with cash savings is no longer delivering. In fact, IG analysis shows that since 1999, UK stock market investors have seen seven times the real return of cash savers (after inflation). Yet subscriptions to cash ISAs are rising, while stocks and shares ISAs are falling.

The film is part of IG’s new SOS campaign ( https://www.ig.com/uk/SOS ) – which calls on the government to take action to revive the UK stock market and build a stronger retail investing culture. IG has laid out a four-point policy framework, which includes urging the government to go further than cutting the cash ISA allowance – a plan widely reported yesterday – by abolishing the cash ISA altogether.

Michael Healy, UK Managing Director at IG said: 

“We want the UK to become a nation of investors – building future wealth while backing British companies and boosting the stock market. But to do that, we must move beyond the country’s obsession with cash savings. While saving has its place, cash returns can’t compare to investing over the long term and we need more people to be aware of this. We couldn’t think of a better way to highlight our ‘terrible cash returns’ message than with the help of Pat Cash.

“As part of our national campaign, Save Our Stock Market, we’re urgently calling on the Government to revive the UK stock market and get more people investing. A healthier stock market and investing culture stands to benefit all of us.”

Pat Cash adds: “I loved teaming up with IG on this campaign – and it’s a really important message. I’ve seen the power of long-term investing firsthand, but it’s not something people are taught, so I get why there can be a bit of a fear factor around it. We need more campaigns like this to build awareness and get more people engaged with investing.

“As for my returns in the film – let’s just say it wasn’t my best day. But like investing – sport is all about consistency over the long term!”

As part of the SOS campaign, IG is calling on the Government to implement four key changes:

• End the Cash ISA myth: Redirect billions in tax relief from low-yield cash savings into more productive equity investments by ending cash ISA openings and reducing the cash allowance to zero from April.

• Call time on Stamp Duty: Stamp Duty on shares is a self-inflicted wound. No other major economy taxes equity investment like this. Remove this outdated tax that unfairly penalises UK investors.

• Reward investors for backing the UK: Encourage retail investment in UK companies by providing 20% income tax relief on UK shares held in ISAs for at least three years, modelled on the successful Enterprise Investment Scheme.

• End the culture of fear when it comes to investing: Step back from an overly cautious regulatory approach that reinforces fear of investing. Central to this, clarify the difference between advice and guidance so that financial services providers can promote long-term investing benefits without regulatory uncertainty.

To celebrate the campaign, IG is also offering all new UK share dealing customers who join before August 15th a welcome share bundle worth up to £100 , provided they meet the offer’s criteria. The stocks will be randomly allocated, with customers able to receive shares in some of the UK’s most well known public companies from Sainsbury’s to Burberry.

You can read more about IG’s SOS campaign and free UK share offer here.

Your capital is at risk. The value of shares, ETFs and ETCs can fall as well as rise, which could mean getting back less than you originally put in.

About the campaign – Save our stock market

The campaign aims to address the ongoing decline of the UK stock market and the country’s strong preference for cash savings over investing. We are calling on policymakers to take action to revive the UK stock market and build a stronger retail investing culture. You can learn more about the campaign, our free UK share offer for new customers and our proposals to policymakers on our SOS landing page.

Methodology for cash ISA vs investing returns

IG calculated this figure by analysing the total real returns from the FTSE 100 and from the average cash ISA from January 1st 1999 to December 31st 2024 (ISAs introduced in 1999). This FTSE 100 calculation assumed that all dividends were reinvested. By real returns, we mean the returns which were delivered after the impact of inflation. For cash ISAs, the actual figure for real returns was 9.2% across the 26-year period, averaging out at 0.34% per year. For the FTSE 100, the real return over the period was 62.4%, averaging out at 1.88% per year.