Liam Byrne MP has used this week's first ever Child Trust Fund Week to remind Hodge Hill parents to use their Child Trust Fund vouchers to ensure their children have savings behind them when they reach 18.

Statistics released last week have revealed that just 56% of Child Trust Fund accounts have been opened by parents in Hodge Hill using vouchers issued to recipients of Child Benefit.

Liam said:

“I am urging all parents in Hodge Hill to take advantage of the Child Trust Fund which is a great way of saving for a child's future. Almost half of the eligible children in the area are not benefiting at the moment but I'd encourage parents to get friends, grandparents and the rest of the family involved in topping up the accounts. The government introduced the Child Trust Fund to help build a nest egg for our children's future and whilst the Lib Dems are still saying the want to scrap the scheme I am determined that as many children in Hodge Hill as possible can benefit.”

He added:

“There's lots of information on the Child Trust Fund website at www.childtrustfund.gov.uk but if you don't have chance to go on the internet then give them a call on 0845 302 1470 and they can tell you more about what you need to do to make the most of the fund .”

All parents with children born since September 2002 will have received a £250 voucher to get an account started although even if the voucher has now expired, the government will have opened an account. The Government will add an extra £250 for families on lower incomes, and there will be further top-ups when children reach the age of 7.