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Home Publications The Saving Gateway and the Child Trust Fund: Is asset-based welfare 'well fair'?

The Saving Gateway and the Child Trust Fund: Is asset-based welfare 'well fair'?

Report
The 2001 Labour Party manifesto committed the government to introducing a 'Child Trust Fund' and a 'Saving Gateway' in the current parliament. This Commentary assesses these two policy proposals. It looks for possible rationales behind the government's plans for some form of asset-based welfare. It provides a discussion of many of the issues important to the design of the Child Trust Fund and the Saving Gateway. It also presents new evidence on the characteristics, incomes and savings of lower-income groups who might be eligible for the Saving Gateway.

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Observation
The need, in the medium-term, to reduce public borrowing makes it natural to try to identify the areas of public spending that could be cut with the least pain. Might the Child Trust Fund be a potential candidate?
Press release
New work published by IFS looks at two asset-based welfare policies and asks how they might work and what rationale lies behind them.