Child Trust Funds

Anyone who has read any of my occasional articles on this subject will know that I am not a fan. What we must all remember is that child trust funds are merely a mechanism for returning tax to the taxpayer - surely simpler to just not collect the tax in the first place.  

Under gormless Gordon’s wasteful scheme people were needed to do the sums for collecting the tax and still more people needed for calculating how much to give back and to whom. All extra government salaries and pensions so kids could receive the odd £250!  

George Osborne has hit upon the right answer: save all the bureaucracy and axe them altogether. It is hardly as if anyone was going to make much money out of these things and the cost of running them was ridiculous in relation to any benefit...