Savings Accounts and Health in Pregnancy Grant Bill

Part of Parliament (Amendment) – in the House of Commons at 6:35 pm on 26th October 2010.

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Photo of Catherine McKinnell Catherine McKinnell Shadow Solicitor General 6:35 pm, 26th October 2010

The child trust fund has not been in existence long enough truly to reap the benefits that it would if it were kept on. In respect of deposits, the fact is that when parents have young children, their outgoings are extremely high, but if the child trust fund is in place in the future, when they have more expendable outgoings, they are able to invest more money in it. So, an awful lot of parents who might not invest when the child is a baby might do so in a few years' time when the child has gone to school and they are not paying for child care and so on.