The Conservative party believe that poorer families are not benefiting from the child trust fund. The have said the majority of children who will benefit from the Labour introduced scheme will be those from wealthier families. This is based on statistics stating that 82% of parents who live in the richest ten areas of the UK have set up CTF accounts for their children, but fewer than 70% of those residing in the poorest ten areas have.
What are the reasons for this? It theory it is they who should be more keen to take advantage of the scheme as they could do with more government assistance. The Tories claim that many are unaware of the existence of the scheme, therefore suggesting that the government has done a poor job of publicizing it and educating people to its benefits. Continue reading ‘Poorer Families Not Benefiting From Child Trust Fund’ »