2 publishers · first seen Thu, 29 Oct 2026 11:03 UTC · updated Thu, 29 Oct 2026 11:57 UTC
Martin Lewis has commented on the latest UK Budget, welcoming the scrapping of the gas standing charge and the reduction of the Lifetime ISA withdrawal penalty from 25 per cent to 20 per cent. He noted that income tax thresholds will remain frozen at £12,570, maintaining what he described as 'fiscal drag', while the student loan repayment threshold for Plan 2 borrowers stays at £29,385 until 2030.
Lewis also highlighted that a new ISA for first-time buyers will replace the Lifetime ISA, though development will take several years. He previously urged changes to the LISA penalty, stating the update removes risk for savers who may be priced out of the housing market. The Budget included a £100 energy bill support for around 20 million households and tax breaks for high street businesses.
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