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Child Trust Funds

Volume 455: debated on Wednesday 10 January 2007

To ask the Chancellor of the Exchequer how many people have opened child trust funds in each year since their inception; and if he will make a statement. (113034)

The latest set of child trust fund account opening statistics was published by HM Revenue and Customs on 4 January 2007 at:

www.hmrc.gov.uk/stats/child_trust_funds/child-trust-funds.htm

These show that in 2005-06, the first complete year of operation for the child trust fund scheme, 76 per cent. of parents used their voucher within 12 months to open an account for their child.

They also show that almost 2.5 million child trust fund accounts have now been opened, and over 1.95 million accounts have been opened by parents.