Family Investments

Response to the pre-budget report

9th December 2009

John Reeve, Chief Executive at Family Investments, commented:

"It is great to see the Government underlining its support for children by reinforcing its commitment to the Child Trust Fund (CTF) scheme this afternoon. Family Investments believes that providing children with the means to build up a financial asset can give them a real head start by the time they reach adulthood.

"There is currently upwards of £2bn invested in CTFs in the UK, with more than £22 million being added to them each month. It is clear the scheme has encouraged many parents that may not have not previously saved for their children to start doing so.

"Crucially, the CTF scheme is universal - every child born after 1st September 2002 receives one - meaning an entire generation is benefiting from the scheme regardless of their socio-economic status. It's essential that this universality is maintained to support financial literacy targets and create a savings culture in the UK.

“It is also good news to see that the Chancellor, Alistair Darling announced child benefit will rise by 1.5% in April 2010. Hard working families have suffered the most during the recession and this will be a welcome development for them."

- Ends -

 

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Family Investments does not provide advice. If you have any doubts about the suitability of this product you should seek independent financial advice.

Family Investments is a trading name of Family Assurance Friendly Society Limited (incorporated under the Friendly Societies Act 1992 Reg. No. 939F), Family PEP Managers Limited (Co. No. 2934967), Family Investment Management Limited (Co. No. 1915516) and Family Equity Plan Limited (Co. No. 2208249) which are authorised and regulated by the Financial Services Authority (25 The North Colonnade, Canary Wharf, London, E14 5HS). Family Enterprise Limited (Co. No. 2489291) is not authorised or regulated by the Financial Services Authority. Registered in England and Wales at: 16-17 West Street, Brighton, East Sussex, BN1 2RL. For further details see the Important Information. Site last updated 31/08/2010.

© Family Investments | Provider of Child Trust Fund accounts (opened with the Government Child Trust Fund voucher), other investments for children and child investment accounts.