Child Trust Funds ‘may prevent future debt’

The right to a Child Trust Fund for every youngster could help them from falling into debt problems in future years.

In response to plans laid out in the Coalition’s Programme for Government, which indicates reduced spending on the schemes, the Children’s Mutual has defended this right.

David White, chief executive of the body, explained that the arrangements can provide a valuable savings tool for all kids, regardless of their background at birth.

“The Child Trust Fund has already helped the parents of over five million … the initiative is widely seen as one of the most successful government-backed savings schemes ever,” he remarked.

Mr White added that he hopes the government can find a way of overcoming current deficits without abandoning support for the financial wellbeing of Britain’s children.

Patrick Connolly, head of communications at AWD Chase de Vere, recently warned that individuals are not currently putting aside enough money to ensure financial stability in later life.

By Joe Shervin