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Government confirms new scheme for CTF access for young people lacking capacity

1 report, 1 independent Updated Wed 00:00
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.

What happened

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Lucy Rigby and Jake Richards jointly confirmed a new government scheme designed to provide straightforward access to Child Trust Funds (CTFs) for young people who lack mental capacity. The scheme addresses a lack of specific provisions in CTFs, which previously forced 63,000 to 126,000 young people to undergo lengthy and confusing court processes to access their funds.

From moneymarketing.co.uk

Why it matters

Some supportBrind's analysis of the reports

The new scheme aims to allow young people to benefit from their CTFs more easily. Previously, the lack of clear access provisions meant many young people could not easily access and benefit from their savings.

From moneymarketing.co.uk

Who's involved

  • Lucy RigbyEconomic secretary to the Treasury who confirmed the new CTF access scheme.
  • Jake RichardsJustice minister who confirmed the new CTF access scheme.
  • governmentThe government committing to the new scheme to help children access CTFs.

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The entities involved

Coverage

Newest first; wire copies grouped