Burnham is wrong to scrap the Lifetime ISA

The Lifetime ISA is a successful product, and new reforms will only make it better. So why is the government still going to scrap it, asks Brian Byrnes Introduced in 2017 to help young people navigate the twin challenges of buying a first home and saving for retirement, the Lifetime ISA (LISA) had a clear but ambitious purpose. Since then, it has helped over 417,000 first-time buyers purchase over £67.5bn worth of property in towns and cities across the UK. However, in the almost 10 years the product has been around, industry and LISA users have been calling for thoughtful upgrades to future-proof the product to ensure it continues working for the vast majority of savers. In the Budget, the government announced an upgrade to the Lifetime ISA that we have long called for: a reduction in the penalty withdrawal for first-time buyers using the product to buy a property over the £450,000 price cap.  We are thrilled about this decision and it is a massive victory for first-time