Rt Hon Alistair Darling MP
Child Trust Fund
There is still much more to do to reduce poverty and especially to improve children’s chances of success in adult life. The new Child Trust Fund will help to do that. A voucher worth £250 was sent to every parent with a baby born after 1st September 2002. Those on lower incomes received £500. The Government will also make an additional payment on their 7th birthday and parents, family and friends can contribute towards the fund each year. The Fund will give every child in Edinburgh South West a better start in life by providing their own tax free savings account at 18.
I have been encouraging parents to make use of the new Child Trust Fund. Information from the Treasury has shown that less than one third of the 1.7 million vouchers sent out have been used so far. This means that almost 7,800 children in Edinburgh could be missing out. This money is available from the Government with no strings attached.
These vouchers can be taken to banks and building societies to open an account. Please do this as soon as possible - the sooner you open an account the quicker the money will grow. For more information you can call 0845 302 1470 or look up http://www.childtrustfund.gov.uk/.
