Calls made for CTF changes

The Tax Incentivised Savings Association (Tisa) has called on the government to further enhance child trust funds (CTFs).

The organisation is urging the government to work alongside the industry to develop a joint communications plan to promote CTFs.

Additionally, Tisa is pressing the government to confirm the introduction of another CTF contribution for children reaching secondary school age.

Tony Vine-Lott, the association's director general, said that the organisation is looking for changes to be announced in the pre-Budget report that will ensure the CTF scheme is even more successful.

Commenting on the use of CTFs in providing financial education in schools last month, Mr Vine-Lott said the government had built upon its "strong track record of investing in children's futures".

Mr Vine-Lott made his comments after the government announced it was to include CTFs in classroom activities and make £11.5 million of additional funding available to help improve financial literacy.

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