Child Trust Fund

HC Deb 17 September 2003 vol 410 cc861-2W

Mr. Flight

To ask the Chancellor of the Exchequer when he will publish the proposals for the Child Trust Fund. [130746]

Ruth Kelly

The Child Trust Fund is intended to encourage parents and children to develop the savings habit. It will ensure that every child, whatever their family background, will have access at the age of 18 when they begin their adult life, to a stock of assets which they can invest in their future.

It will also help children and their parents to understand the benefits of saving and investment and how to engage with financial institutions.

Detailed proposals covering the nature of the Child Trust Fund, how it will operate and the information and guidance that will be provided will be published shortly.