The proposed Child Trust Fund will be implemented to benefit any children born after 1 September 2002. However, following recent speculation, we understand that the fund may be opened up to all children who will be under the age of 16 by April 2005. This is the proposed date to introduce the Child Trust Fund.
By amending the dates, it is thought that another 9 million children will benefit from the fund.
Our View
Firstly, you have to ask yourself where the money is going to come from for all of these trust funds, especially if there are to be another 9 million of them. Also, there is the fact that the change is only a proposal being put forward by the Inland Revenue.
As a spokesperson for the Inland Revenue said: "if there was going to be any change to the structure of the fund, it would have to come from Government"