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Child Trust Funds

EDM number 925 in 2010-12, proposed by Valerie Vaz on 01/11/2010.
Categorised under the topics of Children and families and Financial services.

That this House notes with alarm the Government's decision to abolish child trust funds for all children born after January 2011; acknowledges the success of the Child Trust Fund scheme in nurturing a savings culture and providing a future fund for young people, be it for university fees, accommodation, driving lessons, or expenses while undertaking an apprenticeship, for example; further acknowledges that 2 billion is currently held in child trust funds, and that 74 per cent. of these accounts were opened voluntarily by parents; recognises child trust funds as a progressive tool of social mobility, and of particular value to disadvantaged children; further notes that the cost of child trust funds is only 525 million a year, and that this figure is small compared with the money that could be raised from even modest bank levies; and calls on the Government urgently to reconsider the abolition of these effective savings funds.

This motion has been signed by a total of 26 MPs.

Valerie Vaz01/11/2010Walsall SouthLabourProposed
Mark Durkan01/11/2010FoyleSocial Democratic and Labour PartySeconded
Jim Dobbin02/11/2010Heywood and MiddletonLabourSeconded
Martin Caton02/11/2010GowerLabourSeconded
Alan Meale02/11/2010MansfieldLabourSeconded
Paul Flynn02/11/2010Newport WestLabourSeconded
Jim Shannon03/11/2010StrangfordDUPSigned
Michael Connarty03/11/2010Linlithgow and East FalkirkLabourSigned
Jeremy Corbyn03/11/2010Islington NorthLabourSigned
Jim McGovern03/11/2010Dundee WestLabourSigned
Tom Blenkinsop03/11/2010Middlesbrough South and East ClevelandLabourSigned
Glenda Jackson04/11/2010Hampstead and KilburnLabourSigned
Mary Glindon08/11/2010North TynesideLabourSigned
John McDonnell09/11/2010Hayes and HarlingtonLabourSigned
Ian Lavery09/11/2010WansbeckLabourSigned
Nicholas Dakin09/11/2010ScunthorpeLabourSigned
Steve Rotheram09/11/2010Liverpool, WaltonLabourSigned
Alun Michael09/11/2010Cardiff South and PenarthLabourSigned
Anas Sarwar10/11/2010Glasgow CentralLabourSigned
Marsha Singh11/11/2010Bradford WestLabourSigned
Katy Clark11/11/2010North Ayrshire and ArranLabourSigned
Rosie Cooper15/11/2010West LancashireLabourSigned
Lady Hermon18/11/2010North DownIndependentSigned
Margaret Ritchie22/11/2010South DownSocial Democratic and Labour PartySigned
Graeme Morrice22/11/2010LivingstonLabourSigned
Alasdair McDonnell09/12/2010Belfast SouthSocial Democratic and Labour PartySigned

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