Budget 2016: Osborne launches Lifetime ISA; Raises ISA limit to £20k

Osborne has introduced a Lifetime ISA in a move in what he claims is a completely new flexible way for the next generation to save. The government will also up the limit for standard ISAs to £20,000 a year. People under 40 will be able to save up to £4,000 a year into a tax-free Lifetime ISA, and for every £4 deposited the government will add a further £1. This will be available until savers are 50-years-old.  The government will allow help-to-buy ISAs to be rolled into the new Lifetime ISA.  The Lifetime ISA aims to help the younger generation, known for not saving enough, to incr...