LISA underperforming against govt expectations - HMRC figures

The taxman's figures revealed 166,000 LISAs had been taken out over the period, some 34,000 less than the government's forecast 200,000 for the saving product's first year of operation. Additionally, the government had predicted the average contribution would be £3,500, but contributions have averaged just £3,114 per LISA - almost £400 below expectations. Overall, this means LISA inflows are around £180m down on official expectations. Royal London director of policy Steve Webb suggested the complexity of the product plus a lack of providers in the market had contributed towards a disa...