Child Trust Fund

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Child Trust Fund

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tahir

Joined: 28 Oct 2004
Posts: 45420
Location: Essex

Posted: Thu Feb 03, 05 10:12 am Post subject: Child Trust Fund
What's that all about then?

Treacodactyl
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Joined: 28 Oct 2004
Posts: 25795
Location: Jumping on the bandwagon of opportunism

Posted: Sun Feb 27, 05 8:39 pm Post subject:
I've just seen this post. Put simply it's a bribe by the Labour party for people to vote for them at the next election. I think the first payments are going to be made at about the same time. I'm not sure how you can justify giving someone over £1000 for having a child, but, if your child is a bit too old or if you don't have any you get nothing.

jema
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 28111
Location: escaped from Swindon

Posted: Sun Feb 27, 05 9:12 pm Post subject:
Hard to see it as anything other than a bribe, and for what, if a kid goes on the futher education it we be wiped out due to the lack of grants

Treacodactyl
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 25795
Location: Jumping on the bandwagon of opportunism

Posted: Sun Feb 27, 05 9:24 pm Post subject:

jema wrote:

if a kid goes on the futher education it we be wiped out due to the lack of grants

I think the idea is that it helps make children interested in savings and the stock market will shoot up and children will not have to pay for Uni.

Better get that 10 bore ready for the flying pigs.

sean
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 42207
Location: North Devon

Posted: Sun Feb 27, 05 9:31 pm Post subject:
I'm sure you need an eight or six bore for porcus volens. A ten bore just ends up with wounded runners all over the place.

Treacodactyl
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 25795
Location: Jumping on the bandwagon of opportunism

Posted: Sun Feb 27, 05 9:36 pm Post subject:
I think I'll need to stock up with plenty of cartridges as I think we entering the flying pig season. Mind you there'll probably be a bumper crop of shrooms with all the BS about this spring & summer.

Rob R

Joined: 28 Oct 2004
Posts: 31902
Location: York

Posted: Sun Feb 27, 05 10:14 pm Post subject: Re: Child Trust Fund

tahir wrote:

What's that all about then?

Is this the thing I have heard TV ads about "children born since ****** will automatically receive it"??- I thought, why are they wasting money telling us then, if it is automatic!?

...then I remembered; the election

Treacodactyl
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 25795
Location: Jumping on the bandwagon of opportunism

Posted: Sun Feb 27, 05 10:22 pm Post subject:
Is it automatic? I thought the whole purpose of the various Labour schemes was to make people claim them. That way you can say you are going to give millions away and most people don't know about the benefits or find it too difficult to claim them.

alison
Downsizer Moderator

Joined: 29 Oct 2004
Posts: 12918
Location: North Devon

Posted: Sun Feb 27, 05 10:37 pm Post subject:
I bet there is a 30 page booklet to fill in even so.

dougal

Joined: 15 Jan 2005
Posts: 7184
Location: South Kent

Posted: Sun Feb 27, 05 10:40 pm Post subject:
Haven't paid it much attention (no current relevance ) but the family can "top up" the fund, the investment 'vehicle' can be (within limits) chosen and there's favourable tax treatment in there somewhere as well...

Behemoth

Joined: 01 Dec 2004
Posts: 19023
Location: Leeds

Posted: Mon Feb 28, 05 9:58 am Post subject:

It's suprisingly easy as they have all your details from the inland revenue on household income so there are no forms to fill in.

You get between £250 and £500 depending on your household income and this can be invested through shares, savings or stakeholder roots. The idea is to get people to see the benefits of small regular savings so that if you pay in about £30 a month it will mature into £6 to £8k depending on which savings method you choose. A further payment is made when the child is 5 or 7, again the amount will depend on your circumstances at the time.

Any positive adjustment to the tax regime is a bribe and any negative change is robbery. It's not worth going out and breeding as having a child costs you around £200k by the time they're 18.

Personally I think this is the first step in getting parents to save long term for higher education as in 18 years they will be expected to pay all fees and charges and there will be no govt support. More like the American model. If they made changes and made degree courses last up to 5 years so students could study and hold down part time jobs to pay their own way this would make more sense.

More info at: https://www.childtrustfund.gov.uk/Homepage/fs/en

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