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Part of Oral Answers to Questions — Treasury – in the House of Commons at 2:30 pm on 1st November 2011.

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Photo of George Osborne George Osborne The Chancellor of the Exchequer 2:30 pm, 1st November 2011

We have indeed announced today the launch of the junior ISA, which will enable many millions of parents to save for their children up to £3,600 a year tax free. Is should help more than 6 million children who will be eligible for it immediately and many more as they are born and grow up. It is all about trying to foster a savings culture after the age of irresponsibility and the culture of debt that we saw over the past decade.