Child Trust Funds

Monday 6th January 2014 Written Statements

[The Exchequer Secretary to the Treasury (Mr David Gauke)]

On 23 December 2013 the Government published their response to the child trust fund consultation.

In response to the consultation the Government will be going ahead with their proposal to allow the voluntary transfer of savings from child trust funds to junior ISAs if requested by the registered contact for an account (usually the parent or guardian).

The Government will be taking legislative powers to both permit these transfers and to allow for further intervention in the market in case this is required at a later date.

I will deposit copies of the consultation response document in the House

Libraries.