Apr 25 2007
Chancellor Gordon Brown has announced that the child trust fund (CTF) scheme is to be extended for children living in Wales.
While speaking in Cardiff, the chancellor announced that Welsh children would receive an additional £50 on top of the existing £250 voucher from central government if Labour is returned to power in Wales following regional elections, icWales reports.
Children from low-income families will have an additional £100 added to their first voucher.
"We are launching the child trust fund for Wales because we want to do more for young children in Wales," said Mr Brown.
He added that the commitment to give every child their own trust fund is an essential part of the government's battle against child poverty.
The CTF was launched in January 2005 for children born after the start of September 2002, with the account belonging to the child and funds unable to be withdrawn until their 18th birthday.
