Learning Disabilities: Child Trust Funds

Lord Ponsonby of Shulbrede Excerpts

Thursday 11th February 2021 Lords Chamber

[Lord Wolfson of Tredegar (Con)]

The noble Baroness is certainly right. Virtually everybody does have the best of motives, but there have been cases where the protections afforded by the Mental Capacity Act 2005 have, unfortunately, been needed. One has to remember that, ultimately, one is dealing with the funds of somebody who lacks the capacity to deal with them themselves. That is why the Mental Capacity Act puts in protections which may well be needed.

[Lord Ponsonby of Shulbrede (Lab) [V]]

A professional actuary has been helping campaigners to identify the aggregate amount of money that disabled young people could lose from their child trust fund as a result of the current court process. The results estimate that, if one in four parents give up pursuing these funds because of the perceived difficulty in accessing the money, £107 million could be lost to those children over the next 10 years. This money is being locked away forever in individual accounts. What assurance can the Minister give that any new solution will be designed to make it as easy as possible for these families to access the benefits for young people?

[Lord Wolfson of Tredegar (Con)]

My Lords, I do not want anybody to give up accessing money which is rightfully theirs. There are a number of provisions in place for fees but, to sum this up, the Government’s intention is that no one who needs to apply to the Court of Protection solely to access a child trust fund will pay fees.