Individual Savings Accounts

HM Treasury written question – answered on 12th May 2016.

Alert me about debates like this

Photo of Julian Knight Julian Knight Conservative, Solihull

To ask Mr Chancellor of the Exchequer, when Lifetime ISAs will be available to the public.

Photo of Julian Knight Julian Knight Conservative, Solihull

To ask Mr Chancellor of the Exchequer, what steps he plans to take to offer public financial advice on Lifetime ISAs.

Photo of David Gauke David Gauke The Financial Secretary to the Treasury

The new Lifetime ISA will provide savers with the flexibility to save towards a first home and retirement at the same time.

From April 2017, people aged 18 to 40 will be able to save up to £4,000 each year into a Lifetime ISA and receive a 25% bonus from the Government.

The Government is engaging with the industry on the detail of implementation, regulation and advice on the Lifetime ISA. Further details will be announced when the Government brings forward legislation to enact the Lifetime ISA in the autumn.

Does this answer the above question?

Yes0 people think so

No1 person thinks not

Would you like to ask a question like this yourself? Use our Freedom of Information site.