Clause 1 - Child trust funds
Child Trust Funds Bill
9:45 am
Mr David Laws (Yeovil, Liberal Democrat)
I am pleased to hear that the Minister frequently talks to herself about these issues. I encourage her, though, to speak a little with some of her colleagues in the DWP, particularly those who are responsible for pensions. Since there is such a problem in getting many people to save for their retirement, I should like to plant the thought in the Minister's mind that, once child trust funds mature, they could be used as a forerunner for an account to be used for retirement savings. It would be a great pity if the Government lost the ability to use those accounts, which they established, rightly or wrongly, because they did not think about out what would happen when people reached the age of 18 and the account matured.