Education and Health

Part of Oral Answers to Questions — Prime Minister – in the House of Commons at 4:31 pm on 2nd June 2010.

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Photo of Stewart Hosie Stewart Hosie Scottish National Party, Dundee East 4:31 pm, 2nd June 2010

The Education Secretary is right about the level of debt that the Labour party left behind: £1 trillion of national debt is a huge amount. However, to use that as a justification for doing away with the child trust fund is wrong. The child trust fund is the only savings product I can think of with a 71% voluntary take-up rate and, given that savings ratios in this country were so low for so long and that the fund goes directly to help children when they leave school, it is a false economy to butcher the scheme, notwithstanding the chaos and mayhem that the Labour party left the economy in.