Less Than Half Baby Bonds Are Invested
New figures show over a million child trust fund vouchers have not been invested
1st September 2005
New government figures show that of the 1.9 million Child Trust Fund vouchers issued since the scheme's launch in April this year, only 889,000 have been invested in a CTF account.
While this means that less than half of the vouchers issued have actually been used, it shows is an improvement on the last time figures were released in May, when less than a third of vouchers had been deposited in an account.
Under the scheme, every baby born since September 2002 will receive a voucher worth at least £250, which must be invested in a special CTF account which will mature when the child reaches 18.
Despite the low take-up so far, the government is looking on the bright side, with economic secretary to the Treasury Ivan Lewis welcoming the fact that almost 900,000 children are benefitting from 'positive action' to help give them the 'best start in life'.
Read More: Money Guardian : Over 50% of baby bonds still to be invested
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