Apr 3 2008
A new scheme dubbed KidStart has been launched with the aim of encouraging saving in child trust funds (CTFs) around the country.
The scheme will see some of the UK's most prominent online retailers contribute to a designated CTF when money is spent via their internet services.
Marks & Spencer, Waterstones and Mothercare are just some of the retailers involved and the contributions will vary but will be worth between one per cent and 20 per cent of the amounts being spent.
It is hoped that parents and other family members in particular will be keen to get involved in the KidStart initiative in order to help give a child a better start to their financial lives.
"We are excited to announce the launch of KidStart and give parents the opportunity to make extra savings towards their child's future," said the co-founder of the scheme Chris Hodgson.
Earlier this year, the government urged schools around the country to use CTFs as a way of engaging young Britons with financial issues.
