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The UK Government has responded to calls to change its rules on the Lifetime ISA savings account.

Anyone aged between 18 and 39 can open a Lifetime ISA (LISA) to help save towards their first home or retirement.

You can pay in up to £4,000 each year until you are 50, and the government will add a 25 per cent bonus to your savings, up to a maximum of £1,000 per year.

Withdrawing money before you turn 60 means you are subject to a 25 per cent charge, unless you are using the money to buy your first home or are terminally ill.

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In the daily report published by the House of Commons on November 10, the Chancellor of the Exchequer was asked about changes to LISA rules.

It comes ahead of the Autumn Budget, where

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