Oral Answers to Questions Debate
Full Debate: Read Full DebateDepartment: Department for Work and Pensions
Patrick Grady
Main Page: Patrick Grady (Scottish National Party - Glasgow North)Department Debates - View all Patrick Grady's debates with the Department for Work and Pensions
(3 years, 3 months ago)
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Dr Coffey
I was not misleading the House in any way in any of my statements made so far, and I ask the hon. Gentleman to withdraw.
Patrick Grady (Glasgow North) (SNP)
Why are lifetime individual savings accounts counted as capital in the calculation of universal credit entitlement? They are designed not to be touched until the saver reaches 60 or is buying a house, so why are people like my constituent being hit by penalty charges because the DWP is forcing them to withdraw from a lifetime ISA early?
Dr Coffey
Since universal credit was introduced, there has always been a capital recognition, recognising when people have resources that they can draw on to support themselves rather than drawing on the resources of other taxpayers. That is the principle of why capital is included when people want support for their other living expenses.