Apr 2 2007
The child trust fund (CTF) initiative is approaching its second birthday accompanied by the announcement from HM Revenue & Customs that there are now over 2.6 million CTF accounts open.
April 6th 2007 marks two years since the children's savings programme was launched and during this time there has been a change in the way the UK thinks about money, according to The Children's Mutual.
"These latest figures clearly show the beginning of a significant shift in the way this nation is thinking about saving for the future," said David White, chief executive of The Children's Mutual.
"This is brilliant news for future generations. Family purse strings are under more pressure than ever with many parents being expected to pay for higher education and help their children onto the property ladder."
Today's teenagers may be better prepared for their financial futures in years to come due to the CTF scheme, he added.
Children born on or after September 1st 2002 receive a £250 voucher from the government to start their CTF account.
