'Pragmatic solution' or 'barrier to pension saving'? Industry reacts to Osborne's Lifetime ISA

Government offering £1 for every £4 saved

George Osborne's announcement of a new Lifetime ISA which will allow under-40s to receive £1 for every £4 saved on up to £4,000 has split industry commentators.

In his eighth Budget as Chancellor, Osborne also announced that the UK's growth target for 2016 was revised down to 2% by the Office for Budget Responsibility, from its November target of 2.4%, due to a "materially weaker outlook for the country" as the EU referendum approaches. He also introduced plans to permanently double small business rate relief, with the tax threshold for small businesses now sitting at £15,000, up from £6,000, and for higher rate payers from £18,000 to £51,000. Jon Gwinnett, product technical manager at Nucleus, said the Lifetime ISA looks to be a reaction to ...