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Topic: No more Child Trust Fund and Child Tax Credits Cut  (Read 1159 times)

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No more Child Trust Fund and Child Tax Credits Cut
« on: May 24, 2010, 12:02:23 PM »
I can't find a direct link at the moment as I think it's being announced live now, but the new government has just announced no more Child Trust Funds and that Child Tax Credits will be cut. Not sure by how much.  ???
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Re: No more Child Trust Fund and Child Tax Credits Cut
« Reply #1 on: May 24, 2010, 01:13:49 PM »
BOOOOO!  I wonder when this will go into effect?  I have 10 more weeks for Munchkin #2 to get here.
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Re: No more Child Trust Fund and Child Tax Credits Cut
« Reply #2 on: May 24, 2010, 01:34:17 PM »
HMRC says CTF top-up payments will be stopped by August and newborn by January.  Also low income families will still receive a small amount.

Don't see anything about CTC being cut though.
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Re: No more Child Trust Fund and Child Tax Credits Cut
« Reply #3 on: May 24, 2010, 01:58:43 PM »
Quote from: Bring Us A...Shubbery! on May 24, 2010, 01:13:49 PM
BOOOOO!  I wonder when this will go into effect?  I have 10 more weeks for Munchkin #2 to get here.

1st August will be cut from £250 to £50 and for the poor from £500 to £100. Nothing for 7 year olds.

From 1 January, all payments stopped.

This came in 2002 and costs the country money were don't have.
http://news.bbc.co.uk/1/hi/business/10146734.stm
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Re: No more Child Trust Fund and Child Tax Credits Cut
« Reply #4 on: May 25, 2010, 08:23:16 AM »
Regarding the Child Trust Fund:

http://www.childtrustfund.gov.uk/

Link at the top of the page.
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Re: No more Child Trust Fund and Child Tax Credits Cut
« Reply #5 on: May 25, 2010, 01:49:15 PM »
Just waiting for my replacement voucher now as we never received it. We're getting our kid's trust fund opened right away...

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Re: No more Child Trust Fund and Child Tax Credits Cut
« Reply #6 on: May 25, 2010, 04:39:50 PM »
Child Trust Fund Vouchers come with Child Benefit, which was intended to be even accross the board regardless of income.  Clearly that's no longer going to be the case.  I've not seen or heard any news about the Child Tax Credits being cut though.  If anyone finds a link to that please post!

An easy to understand Q&A on CTF cut:  http://www.guardian.co.uk/money/2010/may/24/child-trust-funds-scrapped-q-and-a
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Re: No more Child Trust Fund and Child Tax Credits Cut
« Reply #7 on: May 28, 2010, 05:05:49 PM »
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