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CHILD TRUST FUND SCHEME

EDM (Early Day Motion) 1049: tabled on 21 March 2002

Tabled in the 2001-02 session.

This motion has been signed by 9 Members. It has not yet had any amendments submitted.

As this motion is using historical data, we may not have the record of the original ordering, in which case signatories are listed alphabetically.

Motion text

That this House, in welcoming the Government's proposals for a Child Trust Fund, notes that HM Treasury is considering whether Child Trust Fund schemes should be provided by open market competition or by a very limited number of licensed providers; expresses its concern that to restrict the provision to licensed providers would tend to favour large financial institutions at the expense of smaller financial institutions, including many building societies; notes that building societies have a particularly good record in providing mini cash ISAs and in catering for the children's savings market; and accordingly urges the Government to adopt the open market competition model for the operation of the Child Trust Fund scheme.