Well we knew it was coming, and now it's been confirmed. The £250 Child Trust Fund voucher given to new parents is being phased out, and will be gone completely by next January.
It's a shame because I think what the CTF did for many families is to encourage them to save for their children, and at least encourage them to think about the future. Existing Child Trust Funds will continue to run.
But more worrying perhaps is the future of Child Tax Credits. According to the recent KidStart survey 44% of you believe families earning over 50k a year should continue to receive them. At the moment nothing has been said about what may happen to Child Tax Credits – but I think many of us will be watching nervously over the coming months.
*Don't forget you can deposit your KidStart savings into any UK bank or building society account.
written by Liz Jarvis