IMA says saving for children is essential

23 March 2011

Responding to today's announcement in the 2011 Budget Report that the Government will shortly publish draft regulations creating a new savings vehicle for children, Julie Patterson, Director of Authorised Funds and Tax at the IMA (Investment Management Association), said:

"In difficult times a tax-efficient savings vehicle which allows families to save for their children's future is even more important. We therefore welcome today's statement on the introduction of a Junior ISA.

"We urge the Government to re-introduce as soon as possible an initial government contribution to encourage ordinary families to save for their children from an early age.

"Giving children a good reason to learn about savings and investment will help to stimulate a long-term savings culture in the UK."

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