What does the increase in child trust funds mean? (the budget)

[LizzyIzzyLou]

I just briefly saw a heading on sky news saying there will be £100 a year paid into Child trust funds.

Is that correct? £100 extra every year?

Children

• From April next year, the child element of Child Tax Credit to increase by £20. Children with disabilities to get extra £100 a year in their Child Trust Fund, with an extra £200 each year for those with severe disabilities.

Just where is all this money going to come from to pay for these (age 18 p* - up funds) - sorry Child Trust Funds.

They kept running on about "new money" so are they going to produce £13billion new five pound notes to pay for things?

CTF's should NEVER have been started.

i agree bonneville ive opened an separate account for ds which i can have control over and decide when and what they can spend it on.Id rather they gave me the money now when the kids are growing up and needing things and theres only one wage coming in.

at age 18 p* - up funds

I think you'll find the severlly disabled trust funds may be luckky to be alive, much less be planning on blowing it all on a pissup.

I think you'll find the severlly disabled children who will get £200 eatra a year in their trust funds may be luckky to be alive, much less be planning on blowing it all on a pissup.

Good strategy though - just as they move to adult social services and dont get as much support or ot equipment they will be able to use their trust funds to fund basics like wheelchairs, suitable seating and access to a bath or shower!

doh!

Oh my working for social services today has made me so cross I cant even post properly!

I think the remark was directed at the fact that parents have no control over what this money is spent on. I don't think it was in any way directed at special needs kids... who surely could make better use of this money before they are 18.

Thank you Athena. NO WAY was my remark directed at children with special needs.

but from the origional posts its only special needs kids that will be getting the extra.

I dont like the ctf so I dont top it up - so ds will only have the amount he got when born, and the top up added because I was on low income - pobably only a couple of £100.

Anybody know if a child aquires a "special need" at any point in childhood do they sytart getting the extra CTF? eg brainjury at 8 = eligible for it?

What do you think about my statement that those who get the special needs extra will be expected to use t to meet needs that should be met by social services/NHS?

"What do you think about my statement that those who get the special needs extra will be expected to use t to meet needs that should be met by social services/NHS? "

Yes, I think you are probably right there. Bit of a dirty trick really. But, then I would expect nothing less of the Brown/Darling administration.

A lot of people don't like the fact that the trust fund is owned by the child when they turn 18. Parents want to be able to put away finds for their children for specific purposes, such as education. Not her you go a few grand on your 18th birthday and you can do anything you like with it. For this reason many parents put their money in other accounts for the children.