The Children's Mutual already does this with contributions of that size into its Baby Bond
and Children's Portfolios products.
If you made drawing on your baby bond
contingent on spending it on education, then we might expect this to encourage further good investment that would help break the circle of poverty that the chancellor is concerned about," Prof Walker said.
The so-called Baby Bonds
can be topped up to the tune of pounds 1,000 a year by friends and family.
Tax-free friendly society plans like the Children's Mutual's Baby Bond
are the perfect way to save long-term for your child's future.
The Tunbridge Wells Baby Bond
lets you invest from pounds 10 to pounds 25 a month for a minimum of 10 years.
The baby bond
or service bond idea has been operating in this way in Great Britain on a modest scale since 2003; even if we just copied that model, it would be a way to get equity spread around to more young people who can put it to productive use.
It is a "rite of passage", says the wise man, which helps regulate childbirth and strengthen the mother and baby bond
2001: The Government announced plans to give every baby pounds 500 in a baby bond
, which could be worth pounds 3,000 by the time they were 18.
Like Abbie, he has won a Baby Bond
into which the Children's Mutual will invest pounds 1,800 until they are 18.
I FIND it rather hypocritical of Labour to unveil the Baby Bond
scheme as a means to create a meritocratic society.
MODEL CHILD Olga Kurylenko aged three growing up in the Ukraine; TRAD RAGS At 7 in native dress; BABY BOND
At eight months with mum; SHOOT TO THRILL In film; BOND VOYAGE Olga, 17, with pal Aleksey Vasilyev, gran Yelena and mum
Take-up of Gordon Brown's flagship baby bond
scheme is lower in low-income areas and in Wales as a whole than in the affluent south-east of England, Treasury figures released last night show.