Child Trust Funds, Gift Aid & Robin Hood Gate

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Putney MP Tony Colman keeps us up to date.....

Child Trust Funds

On 17th January, the Chancellor of the Exchequer, Gordon Brown, and Minister for Children, Margaret Hodge launched the Child Trust Fund. I am delighted with this new initiative which will provide all children born since September 2002, with a voucher worth £250. Children from low-income families will receive a further £250.

The voucher is then paid into a long-term savings and investment account. The interest or gains made in the account will not be taxed. Parents do not need to contribute to the account, however families and friends are entitled to contribute up to £1200 a year between them. I welcome this initiative as it will ensure that all children, regardless of background, will have some money behind them to give them a start in their adult life.

I am confident that Child Trust Funds will not only encourage children to be financially aware, by bringing financial education to life, but will also ensure that all children in Britain have a stake in the wealth of the nation.

Gift-Aid

I was very impressed by the Putney response to the Tsunami Appeal. In light of this terrible occurrence, it seems timely that the Government is increasing publicity about the "Gift-Aid" scheme. "Gift-Aid" ensures that charities receive an extra 28% on every donation made. Thanks to the changes that have been made in the law, any donation that you give now means more to charity, as they can reclaim tax on every penny.

To guarantee that your charity gets the full benefit of "Gift-Aid", you must fill in a simple form, to ensure that your charity receives an extra 28 pence for every pound you donate!

I am delighted to be supporting plans to make it easier for people to support good causes, and to make sure that the money that they give is worth a much as possible to the charity that they support.

Robin Hood Gate

The Royal Parks Agency has at last produced figures justifying the continued closure of the Gate. I am liaising with Wandsworth Council and will be meeting with the Department for Culture, Media and Sport minister next week. What do you think?

January 25, 2005