fromLondon Business News | Londonlovesbusiness.com
1 day agoThe Lifetime ISA is unfit for purpose and must be reformed in the Autumn Budget - London Business News | Londonlovesbusiness.com
George Osbourne launched LISAs in his 2016 Budget. The idea was to help people save for their first home or retirement, but the product itself is not fit for that purpose and now costs the Government £3bn a year. The LISA allows the user to put in a maximum of £4,000 of savings a year, with the Government then adding a further 25% for every £1 contributed, thus giving a maximum saving of £5,000 a year.
UK politics