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Child trust funds were opposed by the Liberal Democrats at the 2005 general election with the manifesto pledging to move the money into early years programmes instead. . Liberal Democrats have variously argued that recipients may spend the money unwisely, that the policy is overly restrictive in not allowing parents to access the money, and that the money could better be spent on pre-school ...
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Under this proposal, the trust would garner a return of 1.5-2% through federally managed investments and would be accessible only once the child turned 18. Darity and Hamilton projected that if three-quarters of newborns were eligible and the average trust amount was $20,000, the program would cost $60 billion annually. [1]
It ends government support of Child Trust Funds, the Saving Gateway and the Health in Pregnancy Grant. The Act amends the Child Trust Funds Act 2004 by closing the funds to new applicants starting in January 2011. Existing accounts would however continue to function as before. [1]
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The company acted as partner for a range of well known financial services and child-orientated brands in providing Child Trust Funds, such as Boots, Asda, Mothercare and Lloyds Bank. [5] The total number of members and other customers that The Company serves more than doubled from 330,000 to well over 700,000 between 2006 and 2007, with funds ...
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