MPs have called for greater support to help UK households that struggle financially, to help them deal with debt and encourage saving.
Members of the Treasury Committee also called for the Lifetime ISA (individual savings account) nicknamed ‘Lisa’, to be scrapped due to its “perverse incentives and complexity”.
The call came with number of recommendations, following the MPs’ inquiry into UK household finances, including incomes, saving and dealing with debt.
As part of the inquiry MPs received oral and written evidence from the Financial Conduct Authority, pawn and rent-to-own businesses such as The Cash Shop and Brighthouse, as well civil society body Citizen Advice and debt charity StepChange.
The committee said: “T…
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