Free savings account for kids...is this true?

[Honeybunnie]

My husband heard that you can get a childrens savings account from the government, which they pay into until a certain age, for free. Is this available now or is it just a talked about my the government? I'm not sure, does anyone know? If so, then I want to set one up and how would I do that?

I think that it is something to come into force in April, but for new babies not existing ones. Not sure though.

Like Bluestar, have a feeling this is starting in April. It will be for newborn babies from that date (if that is correct), and I think the Government will put £500 into a savings scheme (The Child Trust Fund), which they say they will top up with £100 at five, 11 and 16. It can be added to by parents etc, and indeed children when older. I think everyone will get something but it will be linked to parents income (ie. the richer you are the less you get.)

THis was announced in April 2001, but it hasn't happened yet, and I can't recall ever seeing a date suggested for it to start. There was an article in the Guardian in November (here - society.guardian.co.uk/futureforpublicservices/story/0,8150,849467,00.html) which gives a few details, but again there's nothing specific about dates that it will start, or how to apply for it.
The official government documents on this are here