CHILD TRUST FUND, THE SAVINGS GATEWAY AND BLACK AND MINORITY ETHNIC COMMUNITIES

Early day motion 501, tabled 14 July 2010 by Kate Green (Labour). Signed by 21 members.

That this House recognises research by the Runnymede Trust finding that 60 per cent. of Black and Asian people have no savings; believes that the scrapping of initiatives such as the Child Trust Fund and the Savings Gateway will therefore impact on these communities disproportionately; notes that both the Child Trust Fund and the Savings Gateway enable many black and minority ethnic people on lower incomes to protect themselves and their families from poverty and allows them to rely less on credit and debt; acknowledges the Government's stated priority to encourage a culture of saving; and calls on the Government to rethink its decision to scrap these initiatives, or to introduce new programmes to encourage saving.

Signatures by party: Labour 20, Social Democratic and Labour Party 1.