Learning Disabilities: Child Trust Funds

Lord Vaizey of Didcot Excerpts

Thursday 11th February 2021 Lords Chamber

[Lord Wolfson of Tredegar (Con)]

My Lords, the noble Baroness will be aware that two weeks of the waiting time is mandatory under the Act. For the rest of that period, if applications are marked as urgent then they are dealt with on an expedited basis. On the second point, court staff are putting in place new digital ways of working the procedure to try and speed things up.

[Lord Vaizey of Didcot (Con)]

I thank the Minister for being so brief that I could get in. I point to my entry in the register of Member’s interests relating to my work for the Investing and Savings Alliance. I was delighted to hear what the Minister said about there being no conceptual difference between a child trust fund and a junior ISA. Now that this issue has been raised, should the department now grasp simplifying legal procedures for a whole host of financial products? Can we not see, in the next year, the “Wolfson reforms” as his legacy?

[Lord Wolfson of Tredegar (Con)]

My Lords, I regret that my noble friend is already talking about my legacy when I have only been in this House about six weeks—in future, I will make longer answers. My noble friend raises an important point. I emphasise that the constitutional position is that court procedures and rules are a matter for the courts. So far as I am concerned, we need to make sure that the response of the justice system, over the whole gamut of civil justice, is proportionate to the sum in issue and the issues which are being argued about. To that extent, I agree with the point made by my noble friend.