Even if we used existing nonprofit infrastructures to their maximum, the government would have to put aside (but not initially spend) money for baby bonds
, pay out money when service is rendered, and pay for the operational costs of the program.
The KIDS accounts, like Clinton's baby bonds
, would be a brand new entitlement, he points out, not a replacement for the present welfare state.
On the economy, a 50p top rate of income tax on salaries for those earning over pounds 100,000, cash from baby bonds
, ID cards and industrial subsidies spent instead on pensions, police and education, the National Audit Office given the right to scrutinise public finances, the stamp duty threshold increased to pounds 150,000 and work permit quotas introduced for economic migrants.
But I think the government could spend the money they're spending on baby bonds
on far more important things like health care and things like that.
The government's Baby Bonds
- or Child Trust Funds to give them the correct name - have been arriving through letter boxes giving youngsters the chance to get on to the savings ladder at the earliest opportunity.
TO encourage families to save money specifically for their children, the government announced their Child Trust Fund scheme in 2003, also known as Baby Bonds
Kids will get more cash for their futures with baby bonds
doubling in value when they turn seven.
In his mini-Budget last December he announced plans to introduce baby bonds
Boots polled 3,900 people as they launched a Mutual Baby Bonds
, from Tunbridge Wells Equitable Friendly Society, provide a secure way for parents, grandparents, aunts and uncles to invest and put a little away each month in a savings plan that grows free of income and capital gains taxes.
If applicants for the baby bonds
have any questions they should contact their local Sovereign Bank branch manager.
Middle-income families will also lose entitlements to baby bonds
and child tax credit, while Mr Osborne promised to save more than pounds 7bn by slashing one-third from the cost of running Whitehall and the quangos.