§ Mr. George Osborne
To ask the Chancellor of the Exchequer what assessment he has made of the impact of the proposed EU investment services directive on the sales regime for Child Trust Funds. 
§ Ruth Kelly
The Government are continuing to work with the Financial Services Authority on the development of the regulatory regime for the Child Trust Fund. The Government believe that its plans for the Child Trust Fund are consistent with the draft version of the investment services directive agreed by the Council in October 2003.