Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether her Department plans to regionalise the property cap on Lifetime ISAs.

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 Lifetime ISA 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.

Having a single property cap across the UK simplifies the Lifetime ISA for savers and account providers. However, as with all aspects of the tax system, the Government keeps ISA policy under review.