Draft proposals for the Child Trust Fund published yesterday reveal the government has changed its mind on several points, such as how much will be contributed from the public purse, and who may be eligible to contribute to CTF accounts other than immediate family members.
The basic sums involved have not changed. The government is still offering £250 to all children born after 31 August 2002, with an additional £250 to children from the poorest families. However, the government has added a schedule outlining specific additional payments to children born at various times after 31 August 2002 up until the day CTFs become available in 2005. This takes account of the fact children have had the right to claim CTF contributions even though such accounts are not yet available. The Revenue's table shows children born before the CTF's launch will receive a high...
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