Research published by Sainsbury's Bank suggests 1.2m Child Trust Fund (CFT) vouchers, or three-quarters of those so far sent to parents by the Government are gathering dust awaiting an investment decision.
The news comes as CTF payments have been dragged into the heart of the ongoing General Election campaign because of markedly different views of Labour and the Liberal Democrats on the issue of education. The Lib Dem party has specifically written into its manifesto that it wants to scrap the £1.5bn planned cost of the CTF programme by redirecting the money toward reducing primary school class sizes. Labour has euphemistically referred to “spreading ownership through the Child Trust Fund” in its manifesto. Whatever the political angles, Sainsbury's Bank says the delays in cashing in...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes