Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether she plans to introduce an indexation mechanism to ensure the Lifetime ISA property price cap remains in line with (a) inflation and (b) housing market trends.

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 (Individual Savings Accounts) 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.

This Government is committed to helping first time buyers own their own home and will do this by building 1.5 million more homes.

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