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1649320

registered interest
date	30/06/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Individual Savings Accounts: Fees and Charges
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether his Department plans to reduce the Lifetime ISA withdrawal penalty.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	191896
answer	answer is ministerial correction date of answer 05/07/2023 answer text <p>The LISA is designed to support people to achieve the aspiration of homeownership, or to build up savings for their later life. LISA funds, including any Government bonus, can be withdrawn for the purchase of a first home under £450,000, in the case of terminal illness or from the age of 60.</p><p> </p><p>Although the government recognises that some individuals may wish to access their LISA savings for purposes other than those listed above, the Government considers that the charge is needed to protect the LISA’s status as a long-term savings product.</p><p> </p><p>Removing or reducing the withdrawal charge would not be consistent with this and would encourage the use of LISAs in ways for which they were not intended.</p><p> </p><p>The Government keeps all aspects of the savings tax regime under review.</p><p><strong> </strong></p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 05/07/2023 13:05:55 answering member 4874 label Biography information for Andrew Griffith
tabling member	1447 label Biography information for Andrew Rosindell

1007763

registered interest
date	15/11/2018
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	Unemployment
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Work and Pensions, what progress her Department is making on its policy to make work pay.
tabling member constituency	Upper Bann
tabling member printed	David Simpson
uin	191896
answer	answer is ministerial correction date of answer 23/11/2018 answer text <p>Universal Credit, which is replacing six legacy benefits, provides a single earnings taper rate to ensure claimants are better off working and working more. DWP’s recently published Universal Credit Full Service Survey found an increase in earnings for those in work and on Universal Credit by an average of £600 per year. Additionally, our Universal Credit employment impact analysis (published in September 2017) found that people on Universal Credit are four percentage points more likely to have been in work than JSA claimants</p><p> </p><p>At Autumn Budget 2018, we recently announced a £1000 increase in work allowances from April 2019, which will provide a £630 boost for households with children, and for people with disabilities.</p><p> </p><p>To support the transition to Universal Credit for all self-employed people, the Autumn Budget also announced we will be extending the 12-month grace period (the period before the Minimum Income Floor applies) to all gainfully self-employed people, giving claimants time to grow their businesses.</p> answering member constituency Reading West answering member printed Alok Sharma question first answered 23/11/2018 14:59:20 answering member 4014 label Biography information for Lord Sharma
tabling member	1597 label Biography information for David Simpson