New push on Child Trust Funds
The government is starting a new push to get parents to start a Child Trust Fund (CTF) for their offspring, following the news that as many as one in four parents are still not taking up the initiative.If the vouchers have not been used within eight months, the government will send out letters to parents to remind them to make the most of the opportunity.A CTF voucher worth £250 is available to all children born after September 2002, to get them on the savings ladder and provide them with a little something put away for when they turn 18. Figures also showed only a quarter of children have saved extra money in their CTF accounts. Economic secretary, Kitty Ussher, commented on the statistics: "I am today calling on all parents, grandparents, friends and family of children born after September 1st 2002 to contribute to that child's Child Trust Fund if they possibly can."Every small contribution can make a big difference to the options open to children when they reach 18, whether it's for education, housing or simply to see the world."
Share this..
Related stories
FSA steps into mortgage multiple debate
The Financial Services Authority (FSA) has this evening stepped into the debate regarding mortgages and the relationship with incomes. Homebuyers may well see their mortgage applications limited according to their income in a move to reduce the inflated risks we have seen over the last few years.
Figures released by the FSA indicate that the loan to income multiple has risen from 2....
Are first time buyers returning to the UK property market?
While yesterday's figures from the Council of Mortgage Lenders (CML) appeared to show an increase in approved mortgages from March there was little indication of a significant increase in first-time buyer activity. However, today we have seen more details revealed with confirmation that first-time buyers in March 2009 accounted for over 40% of mortgage approvals which is the highest proportion sin...
Read MoreGet on your bike to save money
Before anybody begins to fret, we are not recommending biking to work or even biking on long journeys!
If we are all honest there are probably a significant number of journeys we make each day in the car which really we could do without. Whether this is a short journey to the shops, dropping off a friend or child at someone's home or even dropping the kids off at school, there are m...
JJB Sports survives after creditors cave in
As we covered in one of our recent post, today was D-Day for JJB sports with a meeting of creditors to discuss a potential change in the company's leasing arrangements. Thankfully for the company, 99% of creditors voted in favour of the company's proposal, even though just 75% were required to push through the changes. It now appears as though the short to medium term future of JJB sports is secur...
Read MoreUK economy to fight deflation until 2012
At a time when the UK government and the Bank of England are trying to prop up a seriously weak UK economy many analysts are now focusing on the threat of deflation which could plunge the UK economy into a depression. Deflation is hitting the headlines more and more and while many people will never have experienced this in their lifetime this is certainly a period in the UK's economic development...
Read More