The Budget announcement that the government will extend the consultation on offering a further payment when a child reaches secondary school age has been welcomed by Halifax Financial Services (HFS).
Chancellor Gordon Brown made the announcement during the delivery of his ninth Budget on Wednesday, although he did not give any indication of what the top-up amount might be.
"We intend to play a full part in the government's consultation and would hope that the secondary school age payment will also be at least £250, rising to £500 for children from lower-income households," said Ray Milne, managing director of HFS.
"With three government payments amounting to at least £750 and continued encouragement for families to make additional contributions there is a real opportunity to provide a solid financial foundation for children over the 18 year period."
The Halifax Stakeholder Child Trust Fund will invest in a FTSE 100 Tracking Fund, managed by Insight Investment, to maximise long-term growth potential.Click here to find out more about children's investments.
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