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Asset Based Welfare

Asset Based Welfare .The UK Government proposes to introduce a Child Trust Fund - a lump sum payment for each child at birth invested and locked away until adulthood, and a Savings Gateway - a savings account for those on low incomes where savings will be matched with government contributions. This paper provides a critique of the proposals: arguing that the aims of the Child Trust Fund are confused, that many of the target group for the Savings Gateway have very good reasons for not saving, and the scheme will suffer from a high degree of deadweight as people with existing savings move their money into the matching accounts. By Carl Emmerson and Matthew Wakefield of the Institute for Fiscal Studies. UK

 

By Institute for Fiscal Studies. , UK .

Welfare and Social Security Policy Resource.