Savings Accounts and Health in Pregnancy Grant Bill

Lord McCrea of Magherafelt and Cookstown Excerpts

Tuesday 26th October 2010 Commons Chamber

[Jim Shannon]

I thank the hon. Gentleman for his intervention. The credit unions facilitated that role for child trust funds, as other Members have mentioned. The scheme was extremely popular in the area that I represent and in Northern Ireland as a whole. The figures that have been released clearly show that.

Parents did channel moneys and savings through for their children, but with respect I feel that the coalition—our Government—has stopped a worthwhile scheme, which will hurt the pockets of those who need help most. The ripples of that will come through in the next few months.

[Dr William McCrea (South Antrim) (DUP)]

The hon. Member for Blackpool North and Cleveleys (Paul Maynard), who spoke on behalf of the coalition a short time ago, suggested that the best way to encourage savings was to have a piggy bank in the bedroom. With the greatest respect, when we think about the amount of money that the parents of many of those children will have to pay and how much less they will have to spend on their children, we have to ask: where will they get that money to put into the piggy bank, and will that not increase the divide in our society and penalise its poorest members?

[Jim Shannon]

It has been mentioned by others that, for a great many in this House, there is an equality issue with this Bill. It will disadvantage those who can least afford it, and will give an advantage to those who perhaps do not need such schemes. We will eventually end up with inequality in our society. Northern Ireland was offering an example of how things could move forward, and the take-up of the child trust fund was an example of that.

The saving gateway account was a pilot scheme, and it never got as far as Northern Ireland—unfortunately. I was hoping that we could take advantage of the spin-offs for our constituents. There were certainly high expectations on the part of many, and that gave hope to a great many people. Again, the scheme was a savings account that involved the Government matching savers’ moneys, which encouraged people to be part of the process. Unfortunately, if the Bill receives its Second Reading, that scheme will also be knocked on the head, and that concerns me. I find it disconcerting that the saving gateway account should be banished to the dusty shelves somewhere, along with the opportunity that it could have given to those who need it most.

The health in pregnancy grant never was a good sum of money, but it did help those whom it was supposed to help. The hon. Member for Blackpool North and Cleveleys referred to the Ronseal test and the rhododendron test. The Ronseal test is whether something does what it says on the tin, and I have to say that the health in pregnancy grant did what it said on the tin. As a representative, I can honestly say that it did deliver.

--- Later in debate ---

[Dr McCrea]

Will my hon. Friend tease this out a little further? I am not sure what part of the coalition’s proposals targets the people the hon. Member for Truro and Falmouth (Sarah Newton) is talking about. The proposals deal with the removal of vital money, rather than with giving it to anyone.

[Jim Shannon]

I thank my hon. Friend for that intervention. We are clearly moving towards that, and if the Bill receives a Second Reading tonight, the opportunities will no longer be there for those who need them.