Sep 8 2008
The government should do more to highlight the importance of saving regularly through initiatives such as child trust funds (CTFs), the director of savings at Nationwide has asserted.
Matthew Carter stated that in the current credit crunch, some consumers are not saving as much as they need to and that he felt more teamwork between the government and the industry needs to take place in order to get people saving regularly.
"The industry and the government need to work together to promote saving initiatives such as child trust funds and the benefits of regular saving, as these have the potential to make a real difference to household wealth," he said.
Recent research from Nationwide found that 18 per cent of people currently believe that government policy encourages people to save money.
The CTF scheme celebrated its sixth year last week.
According to the Telegraph, parents who wish to invest their child's CTF voucher in an ethical way may wish to opt for one of three easily-accessible accounts offered by the Children's Mutual and Family investments.
