According to figures released by HM Revenue and Customs, more than 2.6 million child trust funds have now been opened.
The figures show that the average monthly saving parents are making has increased from £15 per month to £24 per month, which could give a child a lump sum of £9,750, when they reach age 18.
Our view
This depends whether the figures are across all Child Trust Funds or just those that are actually receiving additional family savings. It could good news for the child trust funds as they have just passed their second birthday on 6 April, it also looks a brighter future for the children. However, we suggest there may be an element of spin.