Merge Child Trust Funds with Junior Isas
Responsible department: Her Majesty's Treasury
Around five million, children born between 2002 and 2011, are about to be subjected to a form of discrimination which affects their human rights: they will be the only British citizens not allowed to invest in an ISA. Instead they will be tied to the Child Trust Fund already opened on their behalf. These have not performed well in the past, and are likely to perform even more badly now new Trust Funds can no longer be opened.This gives negative messages about saving to the millions of parents and grandparents who, in many cases, will have struggled to put this money aside for a child’s future. What effect it will have on the attitudes of five million children? They will grow into adulthood knowing that they are members of a small group, actively discriminated against by the government of their own country, facing financial losses as a consequence. This petition asks for a parliamentary debate to allow these children their rights by merging CTFs with the new Junior ISA.
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