Discussion
A big Labour con? Will justify the end of subsidised higher education in 15 years time? Maybe.
Around 45% of the people I speak to daily about it (perhaps 20-30) are actually choosing to contribute - and then usually only £10 per month, and the rest couldn't give a XXXX. A colleague of mine (with a great deal more financial knowledge) thinks it's designed to create a sea-change towards attitudes to saving - particularly where pensions are concerned.
Still, it pays my bills...
Around 45% of the people I speak to daily about it (perhaps 20-30) are actually choosing to contribute - and then usually only £10 per month, and the rest couldn't give a XXXX. A colleague of mine (with a great deal more financial knowledge) thinks it's designed to create a sea-change towards attitudes to saving - particularly where pensions are concerned.
Still, it pays my bills...
simpo two said:
I think it goes back to 2002.
Gordy is definitely losing the plot, dishing out £250 per brat and a billion to Tanzanian schools on his 'Open Chequebook' tour. Except that it was YOUR chequebook, not his...
1st September 2002 and after. Plenty of families have children that fall either side of it. If I had a quid for every complaint I've heard about the cut-off date, well... I'd probably have a couple of hundred quid
Besides, the more massive govt. foul-ups the better IMHO - we'll need a torrent of crap to get these gimps out of the driving seat. If only the Tories could get their act together
julianhj said:
A colleague of mine (with a great deal more financial knowledge) thinks it's designed to create a sea-change towards attitudes to saving - particularly where pensions are concerned.
If pensions and savings weren't taxed to f*** they might be worth having. Funny how the Civil Servants start squealing the moment THEIR big fat pension is threatened, yet back in the real world ours have been screwed from every direction.
julianhj said:
If only the Tories could get their act together
Yep. Roll on another 5 years of socialism. Won't be much left after they realise money doesn't grow on trees. Prudent Chancellor my arse!
Its here to affect a change to the nature of saving that the population as a whole doesnt do.....
Lets not forget that there are a significant proportion of people who have no savings, and some even have no pension. Kinda playing with fire if you ask me. The £250 is locked to the child and can only be used on maturity of the bond - i.e. 16 years. Ok, so its not a huge amount of money. But should ease the burden of things like school fees, university charges and even things like the first car or house / flat.
Are you the tax payer footing the bill? Yes of course.
But since there are approximately 500,000 births a year we are talking £125M a year off the bottom line (as a matter of comparison, the NHS costs £57,125M a year....)
Could this mark a seed change in the attitude to saving? Or will we create an entirely new breed of chav in 15 years time? The only difference this time is that they ARE actually designer clothes rather than fake.....
only time will tell......
oh, and if you didnt know. You are supposed to take your "voucher" and use it to open an account. This is a tax free investment system which is very similar to an ISA or TESSA (I think). Its forecast to be something like £5000 after 16 years if you put in £10 a month.... it could even be £17,000 if you put in the child benefit each week..... but its all subjective
Lets not forget that there are a significant proportion of people who have no savings, and some even have no pension. Kinda playing with fire if you ask me. The £250 is locked to the child and can only be used on maturity of the bond - i.e. 16 years. Ok, so its not a huge amount of money. But should ease the burden of things like school fees, university charges and even things like the first car or house / flat.
Are you the tax payer footing the bill? Yes of course.
But since there are approximately 500,000 births a year we are talking £125M a year off the bottom line (as a matter of comparison, the NHS costs £57,125M a year....)
Could this mark a seed change in the attitude to saving? Or will we create an entirely new breed of chav in 15 years time? The only difference this time is that they ARE actually designer clothes rather than fake.....
only time will tell......
oh, and if you didnt know. You are supposed to take your "voucher" and use it to open an account. This is a tax free investment system which is very similar to an ISA or TESSA (I think). Its forecast to be something like £5000 after 16 years if you put in £10 a month.... it could even be £17,000 if you put in the child benefit each week..... but its all subjective
matt_fp said:
How long are they back dating it for? Somehow I think Shazza with 9 kids from the local estate will be kept in Lamberts and Fosters for a good fortnight 
It is blatantly a bribe though, we just have to hope the majority of people see it as one...................
The money is paid directly into a trust fund and invested which family and friends can add to until the child is at least 18 years old. It can,t be got at before. If you recive full child tax credit you will recive £500.00. Loads of banks, supermarkets, etc have set up trust funds.
>> Edited by plug on Monday 28th February 20:52
plug said:
How long are they back dating it for? Somehow I think Shazza with 9 kids from the local estate will be kept in Lamberts and Fosters for a good fortnight
It is blatantly a bribe though, we just have to hope the majority of people see it as one...................
The money is paid directly into a trust fund and invested which family and friends can add to until the child is at least 18 years old. It can,t be got at before. If you recive full child tax credit you will recive £500.00. Loads of banks, supermarkets, etc have set up trust funds.
>> Edited by plug on Monday 28th February 20:52
Ah thats a bit different then.
matt_fp said:
matt_fp said:
How long are they back dating it for? Somehow I think Shazza with 9 kids from the local estate will be kept in Lamberts and Fosters for a good fortnight
It is blatantly a bribe though, we just have to hope the majority of people see it as one...................
can anyone see whats coming??? if you are from a non-chav family and they build a nest egg for you it will have to be used to pay for university. If you are a chav and only have 250 pounds + growth you will get it for free no doubt but you prob wouldnt be thinking of university anyway...ah bollox.
The money is paid directly into a trust fund and invested which family and friends can add to until the child is at least 18 years old. It can,t be got at before. If you recive full child tax credit you will recive £500.00. Loads of banks, supermarkets, etc have set up trust funds.
>> Edited by plug on Monday 28th February 20:52
Ah thats a bit different then.
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