Child Trust Fund Vouchers - being scrapped by Coalition Gov't?

With the Torries & Lib-tems taking power it looks like the new coallition are planning to scrap the CTF scheme for all but the very poor in their attempts to cut government spending (thanks to the Lib-Dems).    Here's the relevent info from an article in the Telegraph yesterday:

What will happen to my child's Child Trust Fund if the savings scheme is scrapped?

The Tories have suggested that the Child Trust Fund (CTF), which was one of the pioneering savings schemes of the Labour government, will be scrapped for all but the most deprived families. Doing so is likely to require primary legislation, according to Martin Shaw, chief executive of the Association of Financial Mutuals, since the current legislation suggests the trust funds are universal.

He said that although it is not yet clear what would happen if the funds were scrapped, indications are that accounts that are already in place would run until their recipients' 18th birthdays, when they would become Isa-type accounts. Children who are currently below the age of seven would be unlikely to get Government top-ups to their accounts unless they have parents on very low incomes.

He suggested that legislation scrapping the accounts could come into force as early as July if it was included in a finance bill, and urged those who had not yet invested their CTF vouchers to act quickly. The voucher is sent when a child is registered for child benefit.

Here's another article from Yahoo! today: Tax winners and losers under coalition government.

So, if you have an eligible child and haven't already registered for Child Benefit, I'd probably say do so ASAP to take advantage of the CTF scheme while you still can.