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Written Question
Individual Savings Accounts: Housing
Tuesday 4th February 2025

Asked by: Danny Beales (Labour - Uxbridge and South Ruislip)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will make an assessment of the potential merits of raising the upper limit of house prices for which the Lifetime Individual Savings Account can be used without incurring a penalty for people living in (a) Greater London and (b) other regions with high house prices.

Answered by Emma Reynolds - Economic Secretary (HM Treasury)

While the Government will continue to monitor the situation, it currently remains of the view that the property price cap for the Lifetime ISA is set at an appropriate level to support most first-time buyers across the UK while targeting households that may find it most difficult to get onto the property ladder.

Data from the latest UK House Price Index shows that while the average price paid by first-time buyers has increased, it is still below the LISA property price cap in all regions of the UK.

The Government keeps all aspects of savings tax policy under review.


Written Question
Individual Savings Accounts: Housing
Tuesday 28th January 2025

Asked by: Danny Beales (Labour - Uxbridge and South Ruislip)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the effectiveness of the upper limit of house prices for which the Lifetime Individual Savings Account can be used without incurring a penalty.

Answered by Emma Reynolds - Economic Secretary (HM Treasury)

Data from the latest UK House Price Index shows that while the average price paid by first-time buyers has increased, it is still below the LISA property price cap in all regions of the UK except for London, where the average price paid is affected by boroughs with very high property values.

The Government keeps all aspects of savings tax policy under review.


Written Question
Tax Avoidance
Monday 13th January 2025

Asked by: Danny Beales (Labour - Uxbridge and South Ruislip)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what her planned timetable is for the delivery of the Loan Charge Review.

Answered by James Murray - Exchequer Secretary (HM Treasury)

At Budget, the Government committed to an independent review of the Loan Charge to help bring the matter to a close for those affected whilst ensuring fairness for all taxpayers.

Further details will be set out in due course.


Written Question
Housing Revenue Accounts: Fiscal Policy
Tuesday 29th October 2024

Asked by: Danny Beales (Labour - Uxbridge and South Ruislip)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will make an assessment of the potential merits of excluding the council Housing Revenue Account from debt-targeted fiscal rules.

Answered by Darren Jones - Chief Secretary to the Treasury

Councils’ Housing Revenue Accounts are a significant part of local authority and public sector finances, and it would not be right to exclude this activity from our fiscal rules.