Govt pledges more to children

draft rules for CTF schemes from inland revenue highlight increases initial contributions

The Government has increased its initial contributions to the Child Trust Fund (CTF) and is capping the charges for the stakeholder version of it at 1.5%, with a minimum contribution level of £10. The Inland Revenue's draft regulations of CTF, which come into effect April 2005, states the Government will contribute £277 for a child born after 31 August 2002 and before 6 April 2003. If the child was born between 6 April 2003 and 5 April 2004, the amount is £268, and for those born between 6 April 2004 and the day preceding the start of the CTF, the amount is £256. These rise to £553, £536,...