The bad joke that is the Government's Child Trust Fund

September 09, 2009 11:42 AM

The Treasury have proudly announced that they are giving out the first round of payments under the Child Trust Fund, £250 for each seven-year old:



"From this month onwards, children who turn seven will get a £250 birthday boost to their Child trust Fund account. The extra money will benefit 700,000 children per year, with children in lower income families also receiving a further £250."


Who do they think is going to pay for that £250?  Has Alistair Darling found some kind of magic money tree in the gardens at 11 Downing Street?  No, the same children who are being treated under this scheme will pay for the national debt racked up by this and other government policies.


The Spectator CoffeeHouse produced a national debt counter recently, it shows that the national debt is currently around £27,538 per family.  Those seven-year olds might be happy to receive their £250 trust fund but they'll be the ones who have to pay back a debt which is more than a hundred times as large, per family.  By the time the Government are finished, that bill will be a lot higher and, unless aggresive action is taken to cut spending, will mean a huge burden on the children that the Government is today pretending it is providing for.


The Treasury have proudly announced that they are giving out the first round of payments under the Child Trust Fund, £250 for each seven-year old:



"From this month onwards, children who turn seven will get a £250 birthday boost to their Child trust Fund account. The extra money will benefit 700,000 children per year, with children in lower income families also receiving a further £250."


Who do they think is going to pay for that £250?  Has Alistair Darling found some kind of magic money tree in the gardens at 11 Downing Street?  No, the same children who are being treated under this scheme will pay for the national debt racked up by this and other government policies.


The Spectator CoffeeHouse produced a national debt counter recently, it shows that the national debt is currently around £27,538 per family.  Those seven-year olds might be happy to receive their £250 trust fund but they'll be the ones who have to pay back a debt which is more than a hundred times as large, per family.  By the time the Government are finished, that bill will be a lot higher and, unless aggresive action is taken to cut spending, will mean a huge burden on the children that the Government is today pretending it is providing for.


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