Lifetime Savings Account - load of rubbish

As cool as most of John Redwood's recent output was, it seems that the Tories are going to re-hash this idea of three years ago.

It was shit then and it's shit now, and little different to a similar shit savings scheme dreamed by Nulabour (i.e. authoritarian left-wing) think-tank IPPR. It's petty minded social engineering at its most pointless.

My preferred solution? Scrap CGT completely, scrap all tax-breaks for investment (a tax-break is a subsidy so by definition it just raises the tax burden elsewhere and hence distorts the system; the deadweight costs always outweigh the benefits), scrap higher rate tax on dividends (basic rate taxpayers don't pay tax on dividends) and tax all interest at a flat 20% with no higher rate tax.

No annual limits, no rules, nothing.