Reeves coming for LISAs ?

TheQuaker

Looks like she's coming for LISAs....

https://www.bbc.co.uk/news/articles/c93kgye03j9o

clairec666

I didn't see Reeves mentioned anywhere in that article...

jimjames

TheQuaker said:

Looks like she's coming for LISAs....

How on earth did you come to that claim from that article? Are you sure you posted the right thing?

TheQuaker

jimjames said:

TheQuaker said:

Looks like she's coming for LISAs....

How on earth did you come to that claim from that article? Are you sure you posted the right thing?

Best use of public money?

The Office for Budget Responsibility predicts spending on bonuses paid on LISAs will cost the Treasury around £3bn over the next five years.

The committee questioned whether the LISA was "the best use of public money given the current strain on public finances" and also raised concerns that the product could be "subsidising the cost of a first home for wealthier people at a significant cost to the taxpayer".

Dazed_and_C0nfused

TheQuaker said:

jimjames said:

TheQuaker said:

Looks like she's coming for LISAs....

How on earth did you come to that claim from that article? Are you sure you posted the right thing?

Best use of public money?

The Office for Budget Responsibility predicts spending on bonuses paid on LISAs will cost the Treasury around £3bn over the next five years.

The committee questioned whether the LISA was "the best use of public money given the current strain on public finances" and also raised concerns that the product could be "subsidising the cost of a first home for wealthier people at a significant cost to the taxpayer".

Is RR on that Committee 🤔

born_again

 if LISA funds were withdrawn early due to unforeseen circumstances, charges mean people face losing 6.25% of their own savings.

Well people should have read & understood the terms of the product they took out. As many products have a cost to end early.

But OP is way off mark with Reeves, as much as many would like to blame her, unless see sits on the committee  🤷‍♀️

Seems to me more a review of the product & it's perceived flaws.

clairec666

born_again said:

 if LISA funds were withdrawn early due to unforeseen circumstances, charges mean people face losing 6.25% of their own savings.

Well people should have read & understood the terms of the product they took out. As many products have a cost to end early.

As a maths teacher whose parents are accountants, this kind of thing comes easily to me, but I'm aware there are lots of people who struggle to get their head around financial matters. I seem to spend half my time teaching students that "decreasing a number by 10% then increasing it by 10%" does not get you back to where you started.

VNX

Here we go again 

dunstonh

Another thread from someone who cannot read an article correctly and posts their opinion on here

TheQuaker

I was just pointing out, potentially they are looking at it. Simple as that. Seems like the end of the world !

I'll be getting mine to utilise their full allowance ASAP in case anything changes soon.

MSE_James

Please could we continue discussion of the Treasury Committee's report on LISAs in this thread?  Whilst taking care to steer away from more politically charged comments and keeping to the substance of the issue.