Children

The oldest children to receive a Child Trust Fund from the government today celebrate their seventh birthdays. Alongside their other presents, the government is making a further contribution to their accounts – those in families receiving a full Child Tax Credit award get £500 while everyone else will get £250. These are the first contributions that these children will have received from the government since equivalent amounts were paid in when the account were opened, at which point 30% qualified for the more generous award. The money is invested and, under normal circumstances, is locked away until the child reaches age 18. Read more...