Anne Longfield appeared before the Parliamentary Committee yesterday, which is considering coalition legislation to abolish child trust funds.
She highlighted figures showing that of the money put into accounts by the government, 97 per cent went to households with an income below £50,000, 70 per cent to households with average incomes or below, and 50 per cent to the 1.5 million families on the lowest incomes – under £16,000.
Longfield said: "While everyone accepts the need for spending reductions, the scrapping of child trust funds is a regressive and disappointing decision. While prosperous parents will continue to make financial provision for their children’s future, children from modest and low-income families will miss out – starting adult life with yet another disadvantage."
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