Oct 5 2007
The government should contribute to child trust funds (CTF) when the child reaches secondary school, it has been suggested.
Ahead of the upcoming Pre-Budget Report (PBR), the Tax Incentivised Savings Association (Tisa) calls for modifications to be made to the current CTF system.
But individual savings accounts (Isa) should be left largely untouched in order to allow previous changes to "bed in", the association adds.
Tony Vine-Lott, director general of Tisa, claims that the organisation has been at the "forefront" of developing the CTF scheme.
"We have looked to our 2007 PBR submission to call for more changes to make the scheme even more successful," the spokesperson asserts.
"We are also keen to see further Isa policy changes to allow for a systematic uprating of Isa allowances."
The proposals include an urge for parents to be allowed to register for a CTF without the need for a physical voucher to be provided by the government.
As the new school year got underway in September, Tisa observed that the first children to be covered by the CTF scheme are now reaching school age.
