Child Trust Funds (Amendment) Regulations 2009

We on this side of the Committee will certainly not oppose the regulations. Indeed, on the assumption that the Child Trust Funds Act and the child trust funds system remain in place, these are sensible amendments. The noble Lord, Lord Howard of Rising, indicated that there was an extensive debate in another place on this issue, on which we as a party part company from the Tory and Labour coalition. We have consistently taken the view that the best way to get resources into the hands of those from less advantaged backgrounds is not via the child trust fund. We would spend the same money—we might even spend more—in a different way. Notwithstanding the attempt of the noble Lord, Lord Howard, to demonstrate the normal Tory innumeracy on economic matters, this is not the appropriate place to continue that debate. I will just sit down and say that we support these regulations.