Julian Knight – 2016 Parliamentary Question to the HM Treasury
The below Parliamentary question was asked by Julian Knight on 2016-05-10.
To ask Mr Chancellor of the Exchequer, what steps he plans to take to offer public financial advice on Lifetime ISAs.
Mr David Gauke
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.
