Submitted on Wednesday 18th January 2023
Rejected on Monday 27th February 2023
Current status: Rejected
Rejection code: duplicate (see below for details)
Reduce the Lifetime ISA withdrawal charge to 20%
Lifetime ISA is designed to help people save for their first home. Withdrawing from it for other reasons incurs a penalty charge of 25%, leading people to lose money. With the cost of living crisis, the government should reduce the charge to 20% as previously done during the 2020 pandemic year.
More and more families are struggling to meet the cost of living and need emergency access to their savings. They can't afford to lose more through this penalty, and reducing the charge will help to reduce their stress. The shocking statistics and the challenges faced by people are well detailed in the following article: https://inews.co.uk/inews-lifestyle/money/property-and-mortgages/lifetime-isas-unable-access-savings-withdrawal-fees-more-gonverment-bonus-1937644
You can't sign this petition because it was rejected. But you can still comment on it here at Repetition.me!
The Government e-Petitions Team gave the following reason:
There's already a petition about this issue. We cannot accept a new petition when we already have one about a very similar issue.
You are more likely to get action on this issue if you sign and share a single petition.
You may wish to sign this petition which calls for the same action: petition.parliament.uk/petitions/625746
18.119.125.60 Tue, 12 Nov 2024 20:27:05 +0000
