Written question asked by Julian Knight (Conservative) on Tuesday, 10 May 2016, in the House of Commons. It was due for an answer on Thursday, 12 May 2016. It was answered by David Gauke (Conservative) on Thursday, 12 May 2016 on behalf of the Treasury.
Individual Savings Accounts
- Question
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To ask Mr Chancellor of the Exchequer, what steps he plans to take to offer public financial advice on Lifetime ISAs.
- Answer
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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.
Secondary information
- Type
- Written question
- Reference
- 36954
- Session
- 2015-16
- Grouped for answer
- Yes
- Subjects
- Individual savings accounts
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2016-07-05 20:11:17 +0100
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/commons/2015-16/36954
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- http://indexing.parliament.uk/Content/Edit/1?uri=http://data.parliament.uk/writtenparliamentaryquestion/commons/2015-16/36954
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