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The Lifetime ISA has been attacked as a ‘gimmick’ and a ‘competitor’ to pensions - less than two hours after it was revealed.
The new Lifetime ISA could be used for “other specific life events” apart from buying a first home and for retirement.
Radical changes to ISAs have been announced as one of the major headlines in the Budget today.
Tax for many businesses purchasing property will be cut, the Treasury said, as it announced changes to commercial property stamp duty in today’s Budget.
A new pensions body is to be created as a part of a shake up that includes creating a ‘slimmer’ Money Advice Service.
Nearly a fifth of consumers may be planning to withdraw cash from pensions to drip-feed it into an ISA once they turn 55, according to new data.
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