Individual Savings Accounts
The question
To ask the Chancellor of the Exchequer, what estimate she has made of the annual cost to the Exchequer of the Lifetime ISA in terms of (a) reduced tax revenue and (b) value paid bonus payments in (i) 2024–25 and (ii) 2025–26.
Answered by Emma Reynolds
The cost of the tax relief element of the Lifetime ISA is included within tax relief cost of all ISAs, which can be found in the Non-structural tax relief statistics publication, specifically table 5.16.
A forecast of estimated bonus paid is published within the OBR’s Economic and fiscal outlook, in the ‘detailed forecast tables: expenditure’ table. Specifically, this can be found within the detailed table breakdown in tab 4.11, row 7.
Links:
https://obr.uk/efo/economic-and-fiscal-outlook-march-2025/
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