GIVE EVERY CHILD THE RIGHT FINANCIAL START IN LIFE
WITH A CHILD TRUST FUND

Stafford’s Labour MP David Kidney is urging parents to make sure they take advantage of Government support for providing funding for their children’s future adulthood. He says the new Child Trust Funds have got off to a strong start and every parent should open an account for their children:

“The Government introduced the Child Trust Fund in 2005. It entitles every child to a savings account from birth with a start-up deposit of £250 (£500 for children from lower income families). And in September 2009, the first payments of a further £250 into the Child Trust Funds of all 7 year-olds were made. From April next year, children with disabilities will receive an additional £100 per year into their Child Trust Funds, with severely disabled children receiving £200 per year – recognising that they are likely to have greater financial needs in their adult lives.

“In Stafford constituency, 5,353 vouchers have been issued and over 79 per cent of these have been used by parents to open accounts. This compares with the national average of 74%. I would encourage all parents in Stafford constituency to consider whether you have received the maximum benefit from Government for your children’s accounts – it will benefit them when they are starting to make their own way in life as adults later on.

“If anyone would like more information about the scheme, they can view the dedicated Child Trust Fund website at:   www.childtrustfund.gov.uk