Clause 1 - Child trust funds
Child Trust Funds Bill
9:45 am
Mr David Laws (Yeovil, Liberal Democrat)
I, too, welcome you to the Chair, Mr. Benton. I managed to resist the temptation to intervene on the first major set of amendments, but I would like to speak to amendment No. 139 and, to some extent, to those tabled by the hon. Member for Tatton.
I also welcome the Financial Secretary to her position. During the proceedings of the Treasury Committee, one of the Labour Members said that she would make a charming and persuasive member of a sales force. I hope that during these proceedings she will be not only in selling mode, but in listening mode, and that she is willing to listen to some of the amendments and representations.
Amendment No. 139 seeks to amend subsection (3), which says:
''The matters dealt with by and under this Act are to be under the care and management of the Inland Revenue.''
Why should the child trust fund be under the care and management only of the Inland Revenue, rather than under the management either of the Department for Work and Pensions or of a partnership agreement between the two Departments?