Monday, 24 May 2010

Boo hoo: the Child Trust Fund

Predictably, "the left" are up in arms about the axing of the Child Trust Fund. Hopi Sen has leapt in with a predictably "witty" tweet, saying that "Osborne looks remarkably relaxed about cutting his trust fund, or did I mishear something".

Ha bloody ha, Mr Sen. That's right up there in the Liam Byrne school of comedy.

The reality of the situation is this: people can already save tax free for their kids, simply by opening up a savings account for children at their local bank. OK, so it loses its tax-free status two years earlier, but big fucking deal.

Oh, and the £250 pounds now and if you're a potential Labour voter an extra £250 pounds now is going to be worth probably half that when you're 18 and we're still paying for Gordon Brown's scorched earth.

Plus, that £250 or £500 now is not money that the government has to give to someone. They have to borrow money from someone else to dish it out. If you were on the bones of your arse and it was some stranger's birthday, would you go to the bank and borrow money just to give them a present? Or are you not clinically insane?


Mark Wadsworth said...

Yup. Good riddance to CTF.

John R said...

First, small step - but welcome nevertheless.

Boy George's £6Bn of spending reduction (I can't bring myself to call them cuts) equates to abour 2 weeks of government overspend.

When do we get the real cuts?