An overwhelming majority of parent are in favour of child trust funds (CTF), with many saying it has encouraged them to invest, it has been suggested.
A poll conducted by Family Investments found that 96 per cent approved of the CTF scheme, with a third saying they have regularly topped up the accounts since they were set up.
The statistics have come after the Conservative Party revealed plans to cut back on CTFs and John Reeve, chief executive at Family Investments, has spoken out against the plans.
He said: "It is hard-working, low and middle income families who will be really hit by these spending cuts.
"To get rid of the CTF before the long-term benefits have been realised seems very strange."
If elected, the Conservatives would restrict CTFs to households where parents have a combined income of less than £16,040.
At present, all newborn children are eligible for a CTF, with the government putting in £250 to start off the account.
Child Trust Fund plea after parents give backing
Child Trust Fund plea after parents give backing
Thu, 18 Feb 2010
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