Michael Johnson, the man who designed the Lifetime ISA and took the plan to the Treasury, told the Committee that Martin Lewis was "factually wrong" about it — and Lewis answered that defending a twenty-year-old idea with academic research was "complete nonsense". Johnson also revealed why the account was really created: as a first step towards scrapping pensions tax relief altogether. The exchange was chaired by Dame Meg Hillier, with questions from John Glen, John Grady and Bobby Dean. Four months later the Committee sided against the design, and in June 2026 the government announced the account would be replaced in 2028.

Treasury Select Committee, 26 February 2025 — Lifetime ISA

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