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Last Updated: Friday, 14 January 2005, 15:52 GMT
Child Trust Funds launched
Baby boy
Children will get at least 250 in their first CTF payment
BBC Radio 4's Money Box was broadcast on Saturday, 15 January, 2005, at 1204 GMT.

The programme was repeated on Sunday, 16 January, 2005, at 2102 GMT.

The new Child Trust Fund (CTF) was formally launched on Tuesday, 11 January, by Chancellor Gordon Brown and the Minister for Children Margaret Hodge.

The first information packs and vouchers are on their way to parents and a major advertising campaign is to begin on Monday, 17 January.

HAVE YOUR SAY
Are you expecting CTF vouchers?
What do you plan to do with the money?
Are CTFs a good idea, or a waste of taxpayers' money?

All children born from 1 September, 2002, will get 250, and the poorest third of families will get 500, which must be invested in a special CTF account.

A second payment will be made when the child reaches seven.

Announcing details of the 75 official providers and distributors, the chancellor explained the aim was to give "not just some, but all children... the best possible start in life".

To discuss how parents should invest the money, we were joined by:

  • Stephen Timms, the minister responsible for the CTF
  • David White, Chief Executive of Children's Mutual, one of the most enthusiastic providers
  • Philip Williamson, Chief Executive of Nationwide, one of the few providers to offer a cash CTF
  • Anna Bowes, Independent Financial Advisor at Chase de Vere.


    Presenter: Paul Lewis
    Producer: Jennifer Clarke
    Reporter: Samantha Washington



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    SEE ALSO:
    Children's savings plan launched
    11 Jan 05 |  Business
    Have your say: Child Trust Funds
    14 Jan 05 |  Moneybox
    Q&A: Child Trust Funds
    10 Jan 05 |  Business


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