To ask Mr Chancellor of the Exchequer, with reference to the Answer of 11 May 2016 to Question 36241, what assumptions were made about the number of people (a) taking up a Lifetime ISA and (b) subscribing the maximum annual amount to an ordinary ISA in calculating the estimated Exchequer impacts set out in that Answer.
The Lifetime ISA is a voluntary product. For further information on the costing of this policy, please see page 9 of the Budget 2015 Policy Costings document: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/508147/PU1912_Policy_Costings_FINAL3.pdf
ISA statistics are published on the GOV.UK website. Table 9.7 sets out the number of individuals subscribing to ISAs by income and amount subscribed: https://www.gov.uk/government/statistics/number-of-individuals-subscribing-to-an-individual-savings-account-isa-by-income.