Menu
11/01/2005
Government launch Child Trust Fund savings plan
The Chancellor of the Exchequer, Gordon Brown and Minister for Children, Margaret Hodge, have officially launched the Child Trust Fund (CTF).
The Child Trust Fund, which was announced in the 2003 Budget, is a long-term savings and investment account, which will be available to all children born since September 2002. Families will receive an initial voucher worth at least £250, with low-income families receiving an additional £250 paid directly into their accounts. Family and friends will be able to contribute up to £1,200 a year and no tax will have to be paid on either the income or gains arising from the monies in the account.
Two million vouchers and information packs are set to be sent out to eligible families from January 17. An extensive advertising campaign, including TV, radio, press and poster advertising, will also begin on the same day.
Addressing a meeting of the representatives of the firms participating in the scheme, the Chancellor said: "Our aim is a Britain of ambition and aspiration where not just some but all children have the best possible start in life. The Child Trust Fund is designed to ensure that every child in our country has assets and wealth and that no child is left out and all children in Britain have a stake in the wealth of the nation."
The Minister for Children added: "The Child Trust Fund is not only about giving all children an asset to use when they are 18 and encouraging saving - it is also about improving financial awareness. The Child Trust Fund offers the real advantage of bringing financial education to life and any discussion of the value of saving will be real rather than theoretical."
The Child Trust Fund is supported by 75 providers and distributors, including Britannia Building Society, HSBC Trust Company and the National Westminister Bank.
A full list of providers and further information is available from www.childtrustfund.gov.uk
(KMcA/SP)
The Child Trust Fund, which was announced in the 2003 Budget, is a long-term savings and investment account, which will be available to all children born since September 2002. Families will receive an initial voucher worth at least £250, with low-income families receiving an additional £250 paid directly into their accounts. Family and friends will be able to contribute up to £1,200 a year and no tax will have to be paid on either the income or gains arising from the monies in the account.
Two million vouchers and information packs are set to be sent out to eligible families from January 17. An extensive advertising campaign, including TV, radio, press and poster advertising, will also begin on the same day.
Addressing a meeting of the representatives of the firms participating in the scheme, the Chancellor said: "Our aim is a Britain of ambition and aspiration where not just some but all children have the best possible start in life. The Child Trust Fund is designed to ensure that every child in our country has assets and wealth and that no child is left out and all children in Britain have a stake in the wealth of the nation."
The Minister for Children added: "The Child Trust Fund is not only about giving all children an asset to use when they are 18 and encouraging saving - it is also about improving financial awareness. The Child Trust Fund offers the real advantage of bringing financial education to life and any discussion of the value of saving will be real rather than theoretical."
The Child Trust Fund is supported by 75 providers and distributors, including Britannia Building Society, HSBC Trust Company and the National Westminister Bank.
A full list of providers and further information is available from www.childtrustfund.gov.uk
(KMcA/SP)
Related UK National News Stories
Click here for the latest headlines.
09 January 2009
Four Millionth Child Trust Fund Milestone Reached
Over four million Child Trust Fund accounts have been opened since they were introduced in 2005, supporting the savings habit and providing children across the UK with a lump sum when they reach 18, the Economic Secretary, Ian Pearson, announced today.
Four Millionth Child Trust Fund Milestone Reached
Over four million Child Trust Fund accounts have been opened since they were introduced in 2005, supporting the savings habit and providing children across the UK with a lump sum when they reach 18, the Economic Secretary, Ian Pearson, announced today.
28 January 2009
Consultation To End Child Poverty, Launched
The Government has today set out plans to make sure every child gets the best start in life by tackling child poverty, which can unfairly hold children back and prevent them reaching their full potential.
Consultation To End Child Poverty, Launched
The Government has today set out plans to make sure every child gets the best start in life by tackling child poverty, which can unfairly hold children back and prevent them reaching their full potential.
10 December 2009
Child Obesity 'Levelling Off'
New figures have suggested escalating child obesity in the UK is beginning to level off, however, rates are still too high, according to the government. The National Child Measurement Programme suggested families are benefiting from knowing the facts about their child's weight.
Child Obesity 'Levelling Off'
New figures have suggested escalating child obesity in the UK is beginning to level off, however, rates are still too high, according to the government. The National Child Measurement Programme suggested families are benefiting from knowing the facts about their child's weight.
03 August 2009
NSPCC Calls Rise After Death Of Baby P
More people are calling the NSPCC Helpline about serious child abuse since the death of Baby Peter two years ago. Between April 2008 and March 2009, the 24-hour freephone service passed on 11,243 suspected child protection cases to police or social services - an increase of more than a third over two years.
NSPCC Calls Rise After Death Of Baby P
More people are calling the NSPCC Helpline about serious child abuse since the death of Baby Peter two years ago. Between April 2008 and March 2009, the 24-hour freephone service passed on 11,243 suspected child protection cases to police or social services - an increase of more than a third over two years.
08 March 2006
Report notes increase in child porn sites
The number of child porn sites reported to police has increased by almost 80%, a new report has revealed. The report, by the Internet Watch Foundation, said that public intolerance of child abuse sites and the development of new skills aimed at tackling the distribution of such images had led to the increase in reports.
Report notes increase in child porn sites
The number of child porn sites reported to police has increased by almost 80%, a new report has revealed. The report, by the Internet Watch Foundation, said that public intolerance of child abuse sites and the development of new skills aimed at tackling the distribution of such images had led to the increase in reports.
-
Northern Ireland WeatherThis Evening and Tonight:It will be cloudy with a spell of heavy rain pushing south through late evening and the early hours, soon followed by some clear spells. Minimum temperature 6 °C.
