Over 6000 Twickenham Children Eligible for Child Trust Fund
March 21, 2006 5:41 PM
An estimated 6342 children in the Twickenham area are eligible for the Child Trust Fund according to Nationwide Building Society and around 12,000 in the borough as a whole.
However there is a very poor take up. A third, or perhaps more, of parents have so far ignored the opportunity to open a Child Trust Fund despite the government's offer of funding.
Vincent Cable said "I've been very critical of the Child Trust Fund idea - in my view not the best use of government funding - but since it exists I want to ensure that local parents and children take advantage of it. I our current environment of high levels of debt amongst young people, it is important that the children do get into the savings habit".
