Daniel Zeichner- Cambridge children set for cash windfall

Over 4000 Cambridge children will benefit from the second phase of Labour’s Child Trust Fund which comes into effect from September 2, says Cambridge Labour Parliamentary spokesperson Daniel Zeichner. A child from a modest-income family born on September 2 2002 stands to receive over £1600 when they turn 18 in 2020.

 Mr Zeichner said: 

"When I was 18, I got £50 that my mum had saved up for by paying sixpence every week to the insurance man who called. I promptly blew it by using it to back a failed rock gig – but my co-promoter went on to become a leading international arts promoter. It was a salutary but important lesson. Without that little bit of capital we couldn’t have taken the risk. I hope that today’s seven year-olds will use their child trust fund wisely when they reach eighteen."