Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he plans to review the Lifetime Individual Savings Account first home property value limit.

The Government is committed to supporting people of all incomes and at all stages of life to save, and to making the aspiration of home ownership a reality for as many households as possible.

Data from the latest UK House Price Index demonstrates that the average price paid by first-time buyers is below the LISA property price cap in all regions of the UK except for Inner London, where the average price paid is affected by Boroughs with very high property values.

The Government keeps all aspects of the savings tax regime under review.