Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps he is taking to raise public awareness of the Lifetime ISA.

The Lifetime ISA is a tax-free savings account. Anyone between the ages of 18 and 40 may open an account and, until their 50^th birthday, may save up to £4,000 each year and receive a 25% government bonus. Savings, including the bonus, can be withdrawn without penalty from age 60, if the saver is terminally ill, or to put towards a first home.

There are currently 21 providers of the Lifetime ISA. As of January 2019, there were 250,000 open accounts on which over £230m has been paid out in bonuses.

The government does not ordinarily promote specific types of ISA. Providers which offer the Lifetime ISA will undertake advertisement and promotion activities in relation to their own products.