Cash ISA subscriptions grew by 67% – a jump of £27.9 billion – in the 2023/24 tax year, HMRC’s data showed. This took the total ploughed into cash ISAs for the year to £69.5 billion. Billions were hurriedly parked into cash at that time, and the next HMRC release is likely to show another surge in cash ISA take-up. Jason Hollands, managing director of investment platform Bestinvest, said: “Over 9.9 million people subscribed to cash ISAs in 2023/24, the highest number in eight years. Overall, savings rates continue on the downward trend.”How does inflation affect cash savings?