Keep Lifetime ISA for retirement savings & make a new ISA for first time buyers
I urge the Government to keep the current Lifetime ISA for retirement savings and reconsider scrapping or reforming it. We believe it is not a complicated product for those who use it to save for their future retirement and that first time buyers seem to be the ones having issues.
React
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Similar motions
Introduce a Home Ownership Savings Account with tax relief for first-time buyers
Introduce a Home Ownership Savings Account with tax-relief for first-time buyers, allowing them to save part of their pre-tax income in a ring-fenced account for a home buying deposit. Funds could then be taxed only if withdrawn for non-eligible use.
Fund Stocks & Shares ISAs for every child, transitioning to pensions as they age
Create a fund for every child from birth, giving them £5,000 (inflation-linked) in a government-backed Stocks & Shares ISA, invested in low-risk diversified funds with parental and post-18 top-ups allowed, to transition into a personal pension as they age and help reduce state dependence in old age.
Scrap stamp duty on share transactions bought within an ISA
By reducing cash ISA limits to push stocks and share ISA's, government will take more in tax than from traditional interest. 20k means multiple stamp duty payments of £100 if stocks are traded. If the government are serious about people investing to better their savings, scrap stamp duty in an ISA.
Reduce the age at which people can open Individual Savings Accounts to 16
At 16 people can work and get a passport without parental consent. We believe that lowering the minimum age for adult ISAs will send a strong, positive message to younger generations about the power of saving and investing as well as giving young people access to the full benefits of the ISA regime.
Keep Lifetime ISA for retirement savings & make a new ISA for first time buyers
I urge the Government to keep the current Lifetime ISA for retirement savings and reconsider scrapping or reforming it. We believe it is not a complicated product for those who use it to save for their future retirement and that first time buyers seem to be the ones having issues.
React
Where do you stand on this motion?
See what others are saying
Members can read every reason.
Similar motions
Introduce a Home Ownership Savings Account with tax relief for first-time buyers
Introduce a Home Ownership Savings Account with tax-relief for first-time buyers, allowing them to save part of their pre-tax income in a ring-fenced account for a home buying deposit. Funds could then be taxed only if withdrawn for non-eligible use.
Fund Stocks & Shares ISAs for every child, transitioning to pensions as they age
Create a fund for every child from birth, giving them £5,000 (inflation-linked) in a government-backed Stocks & Shares ISA, invested in low-risk diversified funds with parental and post-18 top-ups allowed, to transition into a personal pension as they age and help reduce state dependence in old age.
Scrap stamp duty on share transactions bought within an ISA
By reducing cash ISA limits to push stocks and share ISA's, government will take more in tax than from traditional interest. 20k means multiple stamp duty payments of £100 if stocks are traded. If the government are serious about people investing to better their savings, scrap stamp duty in an ISA.
Reduce the age at which people can open Individual Savings Accounts to 16
At 16 people can work and get a passport without parental consent. We believe that lowering the minimum age for adult ISAs will send a strong, positive message to younger generations about the power of saving and investing as well as giving young people access to the full benefits of the ISA regime.