Property News · March 23, 2023

The lifetime Isa home-buying scheme is a flop, so why won’t the Treasury fix it? | Henry Hill


They were designed to help first-time buyers, but lifetime Isas are so restrictive they risk turning into a financial trap for many young peopleOf all the counter-productive, demand-stimulating measures successive governments have introduced to try to palliate the effects of endlessly climbing house prices, the lifetime Isa may have the dubious honour of being the most perverse.Announced by George Osborne, although introduced under Philip Hammond’s chancellorship, it was designed as a vehicle to encourage long-term saving. To sweeten the pot, the government pays in £1 for every £4 saved a year, up to a maximum bonus of £1,000.Henry Hill is deputy editor of ConservativeHome Continue reading…

Source : theguardian.com
Read more…The lifetime Isa home-buying scheme is a flop, so why won’t the Treasury fix it? | Henry Hill

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