Individual Savings Accounts

Treasury written question – answered on 18th July 2019.

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Photo of Andrew Percy Andrew Percy Conservative, Brigg and Goole

To ask the Chancellor of the Exchequer, how many people have invested in a Lifetime ISA since its introduction.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

The Lifetime ISA was introduced to help younger generations save both for their first home and later life. It has been available since April 2017. Individuals can subscribe up to £4,000 a year into a Lifetime ISA, receiving a 25% government bonus.

Since its introduction, monthly digital reporting to HMRC by Lifetime ISA providers indicate that over 330,000 people have invested in a Lifetime ISA.

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