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<p>We have increased the amount of money that people can save in their ISAs annually
to a record £20,000 and introduced a Personal Savings Allowance of up to £1,000. Thanks
to these measures over 95% of people pay no tax on their savings income. In April
2017 the government also introduced the Lifetime ISA, allowing younger people to receive
a 25% bonus from government on savings of up to £4,000 annually. This encourages the
next generation to get into the habit of saving and helps them to simultaneously save
for both a first house and for later life, with the same product.</p>
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