The UK Child Trust Fund: A successful launch
Article
The Child Trust Fund is the world's first universal children's savings policy and many countries are keen to follow the UK's lead. This paper, co-authored with the US thinktank the Aspen Institute, sets out some of the early findings from the UK's experience of CTFs and highlights the key challenges for other countries interested in implementing a similar scheme.
Using official data from the first two-and-a-half years of the Child Trust Fund, together with academic research, industry data and original research, we are able to draw some initial conclusion about the early achievements of the CTF. Parents are generally positive about the policy and a nearly a third of account opened by parents have received extra contributions. Our research also indicates some areas for further development, including the need to increase involvement among some parents and expand the number of CTFs receiving regular contributions from family and friends.
Related items
The transport challenge for low-income households
Many people living on low incomes in the UK are limited in their ability to access the building blocks of a good life because of poor transport provision.Towards universal opportunity for young people
Outlining a vision for young people which could increase social mobility while also reducing inequality and disadvantage, so that every young person has the opportunity to build a decent life.Harry Quilter-Pinner on Channel 4 News discussing one year of Labour and Starmer in power