A committee of MPs says the Government’s not heeded warnings that the Lifetime ISA needs reform.

MP for Mitcham and Morden, Dame Siobhain McDonagh, is one Treasury Committee member voicing concerns about it.

In a previous report, the committee said it was unconvinced the ISAs effectively target those in genuine need of financial support.

People can put in up to £4,000 each year until they are 50.