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Child Trust Fund

Volume 498: debated on Monday 26 October 2009

To ask the Chancellor of the Exchequer whether research has been undertaken to establish the reasons for the different child trust fund take-up rates between different regions in the UK; and what steps are being taken to increase the take-up level where it is lowest. (295471)

HMRC has been increasing its radio advertising in areas of low take-up and sends a reminder letter to all parents who don't open an account after eight months. If parents do not open an account within one year, HM Revenue and Customs (HMRC) will open an account for the child, ensuring that no child misses out on the benefits of a child trust fund account.