Child Trust Fund

House of Lords written question – answered at on 20 June 2005.

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Photo of Baroness Noakes Baroness Noakes Spokespersons In the Lords, Treasury, Spokespersons In the Lords, Work & Pensions & Welfare Reform

asked Her Majesty's Government:

Whether the take-up of child trust fund vouchers to date is satisfactory; and

What assumptions they have made about the number of child trust fund vouchers they expect to have been used to open child trust fund accounts by 30 June 2005, 30 September 2005, 31 December 2005 and 31 March 2006 stating in each case the proportion that such figures represent of the total potential child trust fund accounts.

Photo of Lord McKenzie of Luton Lord McKenzie of Luton Government Whip, Government Whip

The Government are encouraged that parents have seized the initiative on savings and it is tremendous that nearly one-third of vouchers have already been used.

The number of accounts being opened by parents is being closely monitored; any assumptions which could be made about future parental behaviour at this stage are necessarily highly speculative.

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