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what child trust fund??

Comment 4th September 2010

scrap the child trust fund scheme. millions of pounds go into trust funds for all our children, every day.  £2oo is a drop in the ocean to the many wealthy parents recieving this and they cannot just choose to not redeem the amount, it will just automatically go into a government chosen account. it hasnt been much help to the less fortunate of us, so far, either. i would love to know that there is a little nest-egg slowly growing into something substantial for my son (unfortunately my daughter missed out) but, every year when i get his annual statement there is less and less there. by the time he is old enough to cash in, there will be nothing left. i have not been able to add to it so far, but if i had, i dont think i would, after seeing the negative interest. anyway, shouldnt i be the one to decide how to save for my childrens future? stop this mad, fruitless giveaway and put the money saved to better use!

Why does this matter?

my own negative experience aside – the rich dont need this and the poor cant afford to add to it, what will £200 be worth in 18 years on its own? what kind of difference could the extra millions make to improving these childrens lives now? the only people benefitting so far are the fat cats warming their paws as our childrens 'money' burns away.

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