Lifetime ISAs (LISAs) are savings accounts offering government bonuses for first-time homebuyers or retirement savers.
However, early withdrawals incur hefty penalties, potentially leaving individuals with less money than initially invested.
The complex nature of LISAs and concerns about mis-selling raise questions about its suitability and accessibility.
MPs are pushing for reforms to enhance their effectiveness, fairness, and ensure they're the best use of public funds.
